The conversion of oil shale (OS) in a hydrogen medium at a pressure of 6.0 MPa and a temperature of 400 degrees C with the subsequent refining of the resulting products in the presence of NiMo sulfide catalysts supported on materials exhibiting different acidities has been studied. It has been found that the use of the catalysts leads to a significant decrease in the content of sulfur, nitrogen, aromatic hydrocarbons, and olefins in the liquid products obtained from the shale. It has been shown that the catalytic refining of OS hydroconversion products makes the fractional composition of synthetic oil lighter and increases the H/C ratio. The use of the catalysts leads to a decrease in the synthetic oil yield owing to the formation of hydrocarbon gas and coke deposits on the catalysts; in this case, the synthetic oil yield varies in the following order: catalyst-free (25.7 wt %) > NiMo/ASA-Al2O3(22.0 wt %) > NiMo/Al2O3(20.7 wt %) > NiMo/USY-Al2O3(15.8 wt %).