A process for converting a biomass-derived pyrolysis oil in which the pyrolysis oil is contacted with hydrogen in the presence of a catalyst, comprising the following steps: i) preparing a catalyst containing at least one or more Group VIII metals, preferably in an amount of equal to or more than 12wt%, more preferably equal to or more than 16wt%, even more preferably equal to or more than 18wt%, most preferably equal to or more than 20wt%, to equal to or less than 80wt%, more preferably to equal to or less than 65wt% based on the total weight of the catalyst, by a method comprising - (a) comulling a refractory oxide, a small amount of liquid, chosen such that the Loss On Ignition at 485°C of the mixture is from equal to or more than 20wt% to equal to or less than 70wt% based on the total weight of the catalyst composition, and at least one or more metal component(s), which is/are at least partially insoluble in the amount of liquid used, to form a mixture, wherein the metal component(s) is/are at least one or more Group VIII metal component, preferably nickel or a nickel component; - (b) optionally shaping, and drying of the mixture thus obtained; and - (c) calcination of the composition thus obtained to provide a calcined catalyst; wherein in step (a) at least 15% by weight of the metal component(s) is/are insoluble in the amount of liquid used; and wherein such method further comprises comulling in step (a) one or more Group IB metal component(s), preferably copper or a copper component, into the mixture; wherein the catalyst prepared in step (i) comprises essentially no Group VIB metal(s); and ii) contacting a feed containing the biomass-derived pyrolysis oil with hydrogen at a temperature in the range from 50°C to 350°C in the presence of the catalyst prepared in step i). i) preparing a catalyst containing at least one or more Group VIII metals, preferably in an amount of equal to or more than 12wt%, more preferably equal to or more than 16wt%, even more preferably equal to or more than 18wt%, most preferably equal to or more than 20wt%, to equal to or less than 80wt%, more preferably to equal to or less than 65wt% based on the total weight of the catalyst, by a method comprising - (a) comulling a refractory oxide, a small amount of liquid, chosen such that the Loss On Ignition at 485°C of the mixture is from equal to or more than 20wt% to equal to or less than 70wt% based on the total weight of the catalyst composition, and at least one or more metal component(s), which is/are at least partially insoluble in the amount of liquid used, to form a mixture, wherein the metal component(s) is/are at least one or more Group VIII metal component, preferably nickel or a nickel component; - (b) optionally shaping, and drying of the mixture thus obtained; and - (c) calcination of the composition thus obtained to provide a calcined catalyst; wherein in step (a) at least 15% by weight of the metal component(s) is/are insoluble in the amount of liquid used; and wherein such method further comprises comulling in step (a) one or more Group IB metal component(s), preferably copper or a copper component, into the mixture; wherein the catalyst prepared in step (i) comprises essentially no Group VIB metal(s); and - (a) comulling a refractory oxide, a small amount of liquid, chosen such that the Loss On Ignition at 485°C of the mixture is from equal to or more than 20wt% to equal to or less than 70wt% based on the total weight of the catalyst composition, and at least one or more metal component(s), which is/are at least partially insoluble in the amount of liquid used, to form a mixture, wherein the metal component(s) is/are at least one or more Group VIII metal component, preferably nickel or a nickel component; - (b) optionally shaping, and drying of the mixture thus obtained; and - (c) calcination of the composition thus obtained to provide a calcined catalyst; ii) contacting a feed containing the biomass-derived pyrolysis oil with hydrogen at a temperature in the range from 50°C to 350°C in the presence of the catalyst prepared in step i).