Cocombustion of olive byproducts with meat and bone meal (MBM) was investigated in a fluidized bed system. The performance of the blends in terms of efficiency and emissions as a function of operating conditions was examined. Fly and bottom ashes were characterized and their potential uses and environmental impact were assessed through leaching tests on alkaline and acidic soils. All fuels burned mostly within the bed with a high efficiency. CO emissions were low, and SO2 emissions were negligible, while NOx emissions were below legislation limits, except those of olive kernel/MBM 80:20. The optimum performance for the blends was achieved when the MBM percentage in the mixture was 10%, reactor loading was 0.6 kg/h, and excess air was 30%. Fly ashes were rich in Ca, P, K, and Si minerals and Cu, Zn, and Sr trace elements. MBM ash consisted of high melting point calcium phosphates. Heavy metal values leached through both soils were below legislation limits for ash disposal. Ash materials could be used for soil amelioration.