This work presents thermodynamics analysis of hydrogen production via steam reforming of bio-oil components. The model compounds, acetic acid, ethylene glycol and acetone, representatives of the major classes of components present in the aqueous fraction of bio-oil were used for the study. The equilibrium product compositions were investigated in a broad range of conditions like temperature (400–1300 K), steam to fuel ratio (1–9) and pressure (1–20 atm). Any of the three model compounds can be fully reformed even at low temperatures producing hydrogen with maximum yield ranging from 80% to 90% at 900 K. Steam to fuel ratio positively affect the hydrogen content over the entire range of temperature studied. Conversely, higher pressure decreases the hydrogen yield. The formation of solid carbon (graphite) does not constitute a problem provided that reforming temperatures higher than 600 K and steam to fuel ratios higher than 4 for acetic acid and ethylene glycol and 6 for acetone are to be used. Thermal decomposition of the bio-oil components is thermodynamically feasible, forming a mixture containing C ( s ) , CH 4, H 2, CO, CO 2, and H 2O at various proportions depending on the specific nature of the compound and the temperature. Material and energy balances of complete reforming system demonstrated that the production of 1 kmol/s hydrogen from bio-oil steam reforming requires almost the same amount of energy as with natural gas reforming.