There has been an increasing interest in alternative fuels made from biomass which is abundant and renewable. Bio-oil and bio-diesel seem to be such promising liquid fuels. Bio-oil produced by fast pyrolysis of biomass is highly viscous, acidic, and has high water content. To overcome these problems as a fuel, a method of emulsifying bio-oil with bio-diesel was performed in the previous paper, and a stable mixture of bio-oil and bio-diesel was successfully prepared. In this paper, several properties of the mixture are discussed by using TG, FTIR and 1H NMR. The
results show us that, compared with crude bio-oil, some properties of bio-oil/bio-diesel mixture such as water content, acid number, viscosity are much improved. The thermal decomposition of the mixture under air/nitrogen is shown using a thermogravimetric analyzer (TGA). Further information about the functional groups is exhibited through Fourier Transform infrared spectrometer (FTIR) and nuclear magnetic spectroscopy (NMR).