Glycerol is a low-cost byproduct of the biodiesel manufacturing process, which can be used to synthesize various value-added chemicals. Among them, 1,2-propanediol (1,2-PDO) is of great interest because it can be used as an intermediate and additive in many applications. This work investigated the hydrogenolysis of glycerol to 1,2-PDO over Co–Cu bimetallic catalysts supported on TiO2 (denoted as CoCu/TiO2) in aqueous media. The catalysts were prepared using the co-impregnation method and their physicochemical properties were characterized using several techniques. The addition of appropriate Cu increased the glycerol conversion and the 1,2-PDO yield. The highest 1,2-PDO yield was achieved over a 15Co0.5Cu/TiO2 catalyst at 69.5% (glycerol conversion of 95.2% and 1,2-PDO selectivity of 73.0%). In the study on the effects of operating conditions, increasing the reaction temperature, initial pressure, and reaction time increased the glycerol conversion but decreased the selectivity to 1,2-PDO due to the degradation of formed 1,2-PDO to lower alcohols (1-propanol and 2-propanol). The reaction conditions to obtain the maximum 1,2-PDO yield were a catalyst-to-glycerol ratio of 0.028, a reaction temperature of 250 °C, an initial H2 pressure of 4 MPa, and a reaction time of 4 h.