Catalysts based on earth-abundant elements, such as Ni and Mo, that can be used for the conversion of lignin-derived compounds are desirable. However, they usually exhibit low activity and/or selectivity toward the target reaction, hydrodeoxygenation (HDO). For example, conversion of m-cresol in H 2 over a typical Ni/SiO 2 leads to ring hydrogenation at low temperatures and C−C hydrogenolysis to CH 4 at high temperatures. Here, we report that a bimetallic Ni−Mo/SiO 2 catalyst with Ni:Mo ratio ≈ 1 reduced at an optimized temperature can be very active and selective for HDO of m-cresol to toluene over a wide range of reaction temperatures (250−350 °C) and 1 atm of H 2 . This behavior is explained in terms of the surface structure of Mo oxides on the surface of Ni nanoparticles. Detailed characterization (XRD, Raman, TPR, EXAFS, and XPS) indicates that, after calcination, NiMoO 4 is the predominant phase. However, after subsequent reduction, metallic Ni nanoparticles segregate out of the partially reduced MoO x . Interestingly, while no significant structural/electronic modifications are detected for the bulk of the metallic Ni particles, the surface chemistry is clearly altered (i.e., no hydrogenolysis/hydrogenation, weak CO/H 2 adsorption, and lower electron density in the d band of Ni). These results suggest that after reduction, in contrast to the formation of NiMo alloy, the Ni surface gets decorated by reduced MoO x moieties, a phenomenon similar to that previously observed on reducible oxides (so-called SMSI), which is essential for maximizing HDO and inhibiting hydrogenolysis.