Spent coffee grounds contain lipids (fatty acids) in addition to cellulose, hemicellulose, and lignin. The reaction process for upgrading biocrude oil produced from spent coffee grounds is different from that followed for upgrading biomass pyrolysis oil, such as processes that utilize sawdust. The feasibility of upgrading coffee biocrude oil through a supercritical ethanol reaction with plastic pyrolysis oil and through catalytic cracking for the improvement of the undesirable properties of biocrude oil, caused by the presence of oxygenated compounds, was evaluated. The initial oxygen content of the coffee biocrude oil was 16.9 wt%. The oil comprised a total content of 40.9% fatty acids, as found by analyzing the GC-MS peak area. After the supercritical ethanol reaction at 340 ∘C, the oxygen content was decreased to 9.9 wt%. When the MgNiMo/AC catalyst was applied to the supercritical reaction, the oxygen content was further decreased to 8.5 wt%. The esterification of the fatty acids in the biocrude oil with ethanol converted them to esters. After the supercritical reaction of coffee biocrude oil with plastic pyrolysis oil (1:2 (w/w)), the oxygen content was 6.4 wt%. After the catalytic cracking of the biocrude oil by Ni/MCM-41 at 400 ∘C, the fatty acids were converted to hydrocarbons, C9 to C21, and the oxygen content decreased to a final value of 2.8 wt%.