Catalytic microwave pyrolysis of peanut shell (PT) using Fe3O4, Na2CO3, NaOH, and KOH for production of phenolic-rich bio-oil was investigated. The effects of catalyst type, pyrolysis temperature, and biomass/catalyst ratio on product distribution and composition were studied. Among four catalysts tested, Na2CO3 significantly increased the selectivity of phenolic compounds in bio-oil during microwave pyrolysis. The highest phenolics concentration of 57.36% (area) was obtained at 500 °C and PT : Na2CO3 ratio of 8 : 1. The catalytic effect to produce phenolic compounds among all the catalysts tested can be summarized in the order Na2CO3>Fe3O4>KOH>NaOH. Using KOH and NaOH as catalyst resulted in formation of bio-oil with enhanced higher heating value (HHV) and lower oxygen content, indicating that these catalysts enhanced the deoxygenation of bio-oil. The scanning-electron microscopy-energy dispersive X-ray spectroscopy (SEM-EDS) analysis of char particles showed the melting of magnetite and vaporizationcondensation of mineral salt catalysts on char particle, which was attributed to extremely high local temperatures during microwave heating.