With the tremendous prosperity of industry, more and more hazardous waste is discharged from industrial production processes. Cresol distillation residue is a typical industrial hazardous waste that causes severe pollution without proper treatment. Herein, the co-pyrolysis of rice husk and cresol distillation residue was studied using thermogravimetry–mass spectrometry and kinetic studies. The Coats and Redfern method was employed to calculate the activation energy. The results indicated that the pyrolysis process of cresol distillation residue and RH/CDR (Rice Husk and Cresol Distillation Residue) blends can be divided into four stages and three stages for RH. The introduction of RH not only improved the thermo-stability of cresol distillation residue at a low temperature but also reduced the activation energy of the blends. The activation energy was the lowest when the proportion of rice husk in the blend was 60%. The main gaseous pyrolysis products included CH4, H2O, C2H2, CO2, C3H6 and H2. There existed an unusual combination of synergistic and inhibitive interactions between RH and cresol distillation residue, respectively, within different temperature ranges. The synergistic interaction decreased the reaction’s activation energy, whereas the inhibitive interaction reduced the emission of main gaseous products, such as CH4 and CO2. It was concluded that the addition of RH was conducive to improving the pyrolytic performance of cresol distillation residue and the resource utilization of cresol distillation residue.