Bio-oil production from pyrolysis of 0.15-0.5 mm and 1-2 mm palm kernel shell (PKS) has been investigated in a fluidized bed reactor under the nitrogen gas flow rate of 25 L(NTP)/min, with reactor temperature of 450°C. The pyrolysis unit has six successive condensers. Thus, six fractions of bio-oil samples were acquired from the six condensers. The calorific value, water content, ashcontent, and element content of each bio-oil samples were determined. The bio-oil yield from palm kernel shell with the size of 0.15-0.5 mm and 1-2 mm were 20 and 26, respectively. The highest calorific value among the six bio-oil samples was 25.1 MJ/kg which was drawn from the forth condenser from pyrolysis of 0.15-0.5 mm of palm kernel shell. The incondensable gas was a mixture of hydrogen, methane, carbon dioxide and ethane. © (2014) Trans Tech Publications, Switzerland.