A semi-quantitative analysis was accomplished by calculating the relative percentage of areas under the chromatographic peaks. The main chemicals of the bio-oil from wood sawdust and corn stover are shown in Table 4, with the respective percentages of areas determined. Compounds such as aliphatic hydrocarbons, aromatic hydrocarbons, nitrogenated compounds, phenols, polycyclic aromatic hydrocarbons (PAHs), and others were identified. Among these compounds, hydrocarbons are valuable components in bio-oil from the point of view of fuel application. Specifically, aromatic hydrocarbons serve as important industrial chemicals and transportation fuel additives to increase the octane number. In this case, as the composition of liquid product is so complex, further upgrading, such as denitrogenation and deoxygenation, would be necessary.