Pyrolysis of typical wetland biomass, namely purun tikus (Eleocharis dulcis) was experimentally studied herein for the first time. The pyrolysis of purun tikus leaves for bio-oil production was conducted under different reaction temperatures (300, 400, and 500 °C) at fixed pressure and different particle size distributions (0.2, 0.4, and 0.6 mm). Characteristics of bio-oil and product distributions were studied. The bio-oil yield as high as 31% was obtained at 500 °C and 0.6 mm of particle size. Meanwhile, the highest bio-char yield of 62% was obtained at 300 °C and 0.2 mm of particle size. The bio-oil was characterized by gas chromatography/mass spectrometry (GC/MS). Phenol yield as high as 18.23% was achieved at 500 °C and 0.6 mm of particle size under atmospheric pressure. A reaction model was proposed, and the reaction kinetic parameters by assuming the first-order kinetics were determined. The reaction was observed to follow the Arrhenius behavior, and the kinetic model agreed well with the experimental data.