A massive challenge in handling and disposing the polymeric waste, generated by the growing human population and continuous development, has been faced currently as a result of human negligence. Fortunately, among many methods to deal with the problem of increasing polymer debris in the environment, pyrolysis stands out due to its efficiency and accessibility. In the present study, automobile plastic scrap (APS) and tyre crumb rubber (TCR) materials as a combination were subjected to co-pyrolysis using a novel catalyst (NOVC-FZP) that was synthesized using ferrocene and zeolite as precursors. Thermogravimetric analysis (TGA) of the raw materials (APS and TCR) shows single-stage decomposition at 402 °C and 340 °C, respectively. Gas chromatography-mass spectroscopy (GC-MS) analysis confirms higher production of the hydrocarbon (HC) groups in the oil with NOVC-FZP as compared to the neat oil (without NOVC-FZP). The cetane index of the oil with NOVC-FZP was found to be 22 and the calorific value of the same was 9162 Cal/g. A very high proportion of gasoline (86.8% of oil) was found in the oil resulting from the catalyzed pyrolysis. Solid product char (SPC) obtained through pyrolysis was incorporated into linear low-density polyethylene (LLDPE) to form LLDPE/SPC composite (LCC) for use in several applications rather than disposing it off. Higher mechanical properties like tensile strength, hardness as well as enhanced dielectric constant were exhibited by the prepared LCC.