Liquefaction of Adaro coal was performed in an autoclave of 50 mt capacity, at variable solvent (tetralin)/coal ratios from 0 to 2 in single and two stages under the reaction hydrogen pressure of 15 MPa by using FeNi and NiMo catalysts supported on carbon nano particles (Ketjen Black). The maximum oil yield (68%) was obtained at the donor solvent/coal ratio of 1, while the solvent/coal ratio of 0.5 gave the minimum oil yield (38%) in the single- and two-stage liquefaction with FeNi/KB catalyst. Solvent-free liquefaction maximized the hydrocarbon gas/oil yield ratio with FeNi/KB. The catalyst giving a high oil yield (68%) in the liquefaction with tetralin as an H-donor solvent was forced to give a low oil yield when l-methylnaphthalene was used as non-H-donor solvent. In a marked contrast, NiMo/KB catalyst gave the minimum oil yield at the ratio of zero for the single stage and provided high oil yield (73%) with the nondonor as well as H-donor solvent.