This study reports the synthesis of a SiC-MCM41 composite catalyst by a microwave-assisted hydrothermal process and the composite catalyst had the characteristics of MCM41 and SiC, and the surface of SiC grew evenly with a layer of MCM41 after characterization of the catalysts by various means (X-ray diffraction, Brunauer-Emmett-Teller, scanning electron microscopy). The catalyst was applied in the pyrolysis of waste oil to investigate how it influences the bio-oil component proportion compared with no catalyst, only SiC, only MCM41 catalysis and the catalytic effect was also investigated at different temperatures and different catalyst to feed ratios. In a downdraft system with a pyrolysis temperature of 550 °C, a catalyst to feed ratio of 1:2, and a catalytic temperature of 400 °C, 32.43% C5-C12 hydrocarbons and 41.10% mono-aromatics were obtained. The composite catalyst combined the catalytic effect of SiC and MCM41 because it increased the amount of C5-C12 hydrocarbons and decreased the amount of oxygen-containing compounds in bio-oil. After repeated uses, the composite catalyst still retained the catalytic properties.