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Biomass has been recognized as the most common source of renewable energy. In recent years, researchers have paved the way for a search for suitable biomass resources to replace traditional fossil fuel energy and provide high energy output. Although there are plenty of studies of biomass as good biomaterials, there is little detailed information about <i>Staphylea holocarpa</i> wood (<i>S. holocarpa</i>) as a potential bio-oil material. The purpose of this study is to explore the potential of <i>S. holocarpa</i> wood as a bio-oil. Nanocatalyst cobalt (II) oxide (Co₃O₄) and Nickel (II) oxide (NiO) were used to improve the production of bio-oil from <i>S. holocarpa</i> wood. The preparation of biofuels and the extraction of bioactive drugs were performed by the rapid gasification of nanocatalysts. The result indicated that the abundant chemical components detected in the <i>S. holocarpa</i> wood extract could be used in biomedicine, cosmetics, and biofuels, and have a broad industrial application prospect. In addition, nanocatalyst cobalt tetraoxide (Co₃O₄) could improve the catalytic cracking of <i>S. holocarpa</i> wood and generate more bioactive molecules at high temperature, which is conducive to the utilization and development of <i>S. holocarpa</i> wood as biomass. This is the first time that <i>S. holocarpa</i> wood was used in combination with nanocatalysts. In the future, nanocatalysts can be used to solve the problem of sustainable development of biological resources.