Support- and sulfide-free cobalt molybdenum catalysts are prepared via different synthetic procedures for catalytic deoxygenation of oleic acid under inert (N-2) and solvent-free conditions. Among the tested catalysts, the CoMo catalyst prepared via a sol-gel method achieves the highest catalytic performance, namely, 88.9% oleic acid conversion, with 48.1% C-9-O-17 selectivity, and 69.6% oxygen removal rate, owing to its excellent physical properties. Additionally, oxygen vacancy is formed in CoMo catalyst during sol-gel synthesis process and it also effect on the catalytic activity. Examination of the deoxygenation reaction over pre-reduced catalysts reveals that the CoMoO4 species is the active species in the CoMo catalysts. The fuel properties of the resultant products are affected strongly by the catalytic performances of the CoMo catalysts. The biofuel produced using the CoMo catalyst prepared via the sol-gel method showed the highest calorific value (10,119 cal/g) and the lowest viscosity (31.5 cP), and, consequently, this CoMo catalyst exhibits the highest catalytic activity and has significant potential for application in biofuel production.