Thermal and catalytic pyrolysis of various types of lignin and their influence on the yield and the quality of the produced lignin oil were studied. Lignins originated from a mixture of pine and spruce wood (softwood), a mixture of birch and aspen wood (hardwood) and Eucalyptus Urograndis. High degree of deoxygenation of the bio-oil and maximum yield of value-added chemicals were the main targets of this work. 2DGC-ToFMS analysis was used for the qualitative and quantitative characterization of the lignin oils. Softwood lignin was found to be the most attractive feedstock and high yields of a mixture of phenolic compounds were detected in all cases. High char production was also evident for all types of lignins accounting for almost 50% of the original feedstock. The use of a commercial ZSM-5 catalyst was extremely beneficial for the process, enhancing deoxygenation at higher oil yields compared to thermal pyrolysis. Depending on the nature of the lignin, guaiacyl or syringyl groups were dominant in the oils and it was found that process optimization, involving lignin, catalyst selection and temperature could significantly improve the process efficiency.