The bio-oil obtained from the fast pyrolysis of biomass has a high oxygen content. Ketones and aldehydes, carboxylic acids and esters, aliphatic and aromatic alcohols, and ethers have been detected in significant quantities. Because of the reactivity of oxygenated groups, the main problems of the oil are instability. Therefore study of the deoxygenation of bio-oil is needed. In the present work the mechanism of hydrodeoxygenation (HDO) of bio-oil in the presence of a cobalt molybdate catalyst was studied. Particularly, the effects of reaction time, temperature, and hydrogen pressure on the HDO activity were examined. On the experimental results, a kinetic model for HDO of bio-oil was proposed.