Abstract: Lignin is a natural and renewable resource with aromatic structure. It can be converted into bio-oil by hydrothermal liquefaction. Due to the complex structure of wood fiber, the structural characteristics and reactivity of different kinds of lignin are different. Therefore, three typical lignin (kraft lignin (KL), enzymatic hydrolysis lignin (EHL) and ethanol lignin (OL)) were selected as raw materials. Firstly, physical and chemical properties of the raw materials were analyzed. Secondly, effects of reaction conditions on characteristics of their hydrothermal liquefaction bio-oil were investigated. Among them, EHL and OL are guaiacyl units. OL has the highest content of carbon and hydrogen elements, and its higher heating value reaches 23.54 MJ/kg. The aromatic characteristics are more obvious, and the phenolic hydroxyl content is relatively high. KL is mainly syringyl unit with less methoxy and phenolic hydroxyl groups. The results of liquefaction experiment show that when the reaction temperature was 300 ℃, yield and energy recovery rate of lignin bio-oil were the highest. The bio-oil yield ranked in the order of OL>KL>EHL. H/C ratio of bio-oil was concentrated within 1.0-1.4. Chemical composition of the three bio-oils was different. OL bio-oil contains 9.14% aromatic hydrocarbons, EHL bio-oil contains 41.34% phenolic species, and KL bio-oil has a higher acid content.