Hydrogen production derived from thermochemical processing of biomass is becoming an interesting alternative to conventional routes using fossil fuels. In this sense, steam reforming of the aqueous fraction of microalgae hydrothermal liquefaction (HTL) is a promising option for renewable hydrogen production. Since the HTL aqueous fraction is a complex mixture, acetic acid has been chosen as model compound. This work studies the modification of Co/SBA-15 catalyst incorporating a second metal leading to Co-M/SBA-15 (M: Cu, Ag, Ce and Cr). All catalysts were characterized by N2 physisorption, ICP-AES, XRD, TEM, H2-TPR, H2-TPD and Raman spectroscopy. The characterization results evidenced that Cu and Ag incorporation decreased the cobalt oxides reduction temperatures, while Cr addition led to smaller Co0 crystallites better dispersed on the support. Catalytic tests done at 600 °C, showed that Co-Cr/SBA-15 sample gave hydrogen selectivity values above 70 mol % with a significant reduction in coke deposition.