A low cost alkaline catalyst of dolomite (CaMg(CO3)2) was used to stabilize acacia sawdust bio-oil mixed with methanol. The upgrading efficiency was evaluated in terms of the total acid number (TAN) and viscosity. A change in the dolomite calcination temperature from 700 to 900 °C led to a significant change in the TAN and viscosity of the methanol-added bio-oil. Dolomite activated at higher temperatures had larger amounts of active CaO and MgO species due to the enhanced decarboxylation of calcium and magnesium carbonates. An increase in the dolomite content (1-5 wt%) decreased the TAN value of bio-oil remarkably. A thermal aging test of the methanol-added bio-oil upgraded using dolomite (calcined at 900 °C) at 50 °C for 24 h was carried out by storing the bio-oil at 80 °C for one week. Although the TAN value increased after the aging process, it was still lower than the TAN of raw bio-oil. In addition, increasing the methanol content (10-30 wt%) decreased the TAN and viscosity of the bio-oil significantly.