Conversion of heavy oil is urgent as most of the explored fossil oil reserves and renewable raw biodiesel can be categorized as heavy oil. Supercritical water upgrading (SCWU) is a green and promising technology for heavy oil conversion, but the hydrogen-donating capacity of pure water is inadequate. This study adopts transition-metal hydroxide (M−OH) to enhance the in situ hydrogen-donating capacity of water for the first time. Both M− OH and the corresponding metal oxide nanoparticle (MO n ) of one post-transition metal (Al) and five transition metals (Cr, Cu, Fe, Ni, Zn) are tested. The SCWU conditions are selected as 425 °C, 60 min, water-to-oil ratio of 4:1, catalyst-to-oil ratio of 1:10, and water density of 308 kg m −3 . Deuterium oxide (D 2 O) instead of H 2 O is used as the reaction medium for a deuterium tracing study. Results indicate that the different metal-based MO n nanoparticles display various effects on heavy hydrocarbon cracking, gasification, coke suppression, and D addition reactions. The overall performance is found to be on the order of NiO > Cr 2 O 3 > Fe 2 O 3 > CuO > Al 2 O 3 > ZnO. Compared to MO n , M−OH can generally improve the oil yield and H/C ratio and reduce the coke yield simultaneously. The mechanism analysis suggests that the M−OH decomposition behavior under hydrothermal conditions is the primary cause by which MO n and lattice H 2 O are generated in the oil-rich phase. The lattice H 2 O can not only take part in SCWU reactions but also suppress coke formation. In conclusion, M−OH is a promising catalyst as it combines the good dispersibility and catalytic activity of MO n nanoparticles and the low cost of water-soluble inorganic metal salts (M-IAc) but does not result in any corrosive species, such as inorganic acid from M-IAc.