The effect of shale ash (SA)-based catalysts (SA as carriers to support several transition metal salts, such as ZnCl2, NiCl2·6H2O, and CuCl2·2H2O) on oil shale (OS) pyrolysis was studied. Results showed that SA promoted OS pyrolysis, and the optimum weight ratio of OS:SA was found to be 2:1. The SA-supported transition metal salt catalyst promoted the OS pyrolysis, and the catalytic effect increased with increasing load of the transition metal salt within 0.1–3.0 wt%. The transition metal salts loaded on the SA not only promoted OS pyrolysis and reduced the activation energy required but also changed the yield of pyrolysis products (reduced shale oil and semi-coke yields and increased gas and loss yield). SA-supported 3 wt% CuCl2·2H2O catalyst not only exhibited the highest ability to reduce the activation energy in OS pyrolysis (32.84 kJ/mol) but also improved the gas and loss yield, which was 4.4% higher than the uncatalyzed reaction. The supporting transition metal salts on the SA also increased the content of short-chain hydrocarbons in aliphatic hydrocarbons in shale oil and catalyzed the aromatization of aliphatic hydrocarbons to form aromatic hydrocarbons. The catalytic activity of the transition metal salt on the SA-based catalyst for OS pyrolysis decreased in the order of CuCl2·2H2O > NiCl2·6H2O > ZnCl2.