Pyrolysis is an optimal thermochemical process for obtaining valuable products (char, oil, and gas) from waste tires. The preliminary research was done on the three groups of samples acquired by cutting the same waste tire of a passenger vehicle into cylindrical granules with a base diameter of 3, 7, and 11 mm. Each batch weighed 10 g. The heating rate was 14 °C/min, and the final pyrolysis temperature was 750 °C, with 90 s residence time. After the pyrolysis product yields were determined for all of the three sample groups, further research was performed only on 3 mm granules, with the same heating rate, but with altered final pyrolytic temperatures (400, 450, 500, 550, 600, 650, 700, and 750 °C). The results of this study show that thermochemical decomposition of the waste tire sample takes place in the temperature range of 200–500 °C, with three distinct phases of degradation. The highest yield of the pyrolytic oil was achieved at a temperature of 500 °C, but further heating of volatile matters reduced the oil yield, and simultaneously increased the yield of gas, due to the existence of secondary cracking reactions. The analysis of pyrolytic oil and char showed that these products can be used as fuel.