The combination of steam and CO2 reforming of bio‐oil is proposed in this article. The combined reforming can make good use of the advantages of steam reforming and CO2 reforming. The results indicate that H2 yield, potential H2 yield, and H2/CO were 60.23, 81.97, and 2.77%, respectively, at the condition of 700°C and bio‐oil:CO2:H2O = 1:0.5:1.5. Bio‐oil:CO2:H2O has a significant effect on the H2 yield, potential H2 yield, and H2/CO in the process of combined reforming. A different ratio of H2/CO can be obtained by adjusting the proportion of bio‐oil:CO2:H2O, which can meet different industry requirements. The results of X‐ray diffraction and scanning electron microscope analyses indicate that the catalyst deactivation was the result of a combination of carbon deposition and Ni grain sintering, and the carbon deposition was a main reason for the catalyst deactivation.