Energy crisis, global warming, and rapid depletion of fossil fuel reservoirs are knocking the door for alternative fuel. This study explores the hydro-processing of waste cooking oil using mixtures of two heterogeneous catalysts (admixture of calcium oxide and biomass-based thermal power plant fly ash (BBTPFS)) in different proportions (10, 20, 30, and 40% of CaO in BBTPFS by wt%) to analyze the effect on the yield of bio-crude, organic liquid fraction (OLF), and acidity index. The high-pressure high-temperature reactor was used for hydro-processing, and True Boiling Point (TBP) distillation unit was used for fractional distillation of the bio-crude obtained within the boiling range, 35-140 degrees C, 140-180 degrees C, 180-370 degrees C, and 370-482 degrees C as per ASTM D2892 and ASTM D5236 specification. The yield of bio-crude and OLFs and their characterization have been analyzed and compared with literature work. It was observed that 20 wt% of CaO in BBTPFS catalyst was the optimized admixture to obtain the maximum yield of bio-crude (93.85 vol%) and OLFs (66.29 vol%) with lower acidity index.