The role of formic acid together with the effect of the solvent type and their synergic interactions with a NiMo catalyst were studied for the conversion of lignin into bio-oil in an alcohol/formic acid media. The replacement of formic acid with H or isopropanol decreased the oil yield to a considerable degree, increased the solid yield, and altered the nature of the bio-oil. The differences induced by the presence of H were comparable to those observed in the isopropanol system, which suggests similar lignin conversion mechanisms for both systems. Additional semi-batch experiments confirmed that formic acid does not act merely as an in situ hydrogen source or hydrogen donor molecule. Actually, is seems to react with lignin through a formylation-elimination-hydrogenolysis mechanism that leads to the depolymerization of the biopolymer. This reaction competes with formic acid decomposition, which gives mainly H and CO , and forms a complex reaction system. To the best of our knowledge, this is the first time that the distinctive role/mechanism of formic acid has been observed in the conversion of real lignin feedstock. In addition, the solvent, especially ethanol, seems also to play a vital role in the stabilization of the depolymerized monomers and in the elimination/deformylation step.