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Off Grade Crude Palm Oil (CPO) is known as renewable waste source. By catalytic cracking of Off Grade CPO, it is potential use for biogasoline. However, the production remains a problem from heterogeneous catalysis. Active site of α-Fe2O3 can be improved with metal impregnation of Cobalt (Co) and Molybdenum (Mo). Therefore, this study were: (1) to synthesize Co-Mo/α-Fe2O3 catalyst assisted by ultrasonic wave, and (2) to synthesize biogasoline from Off Grade CPO by catalytic cracking method using Co-Mo/α-Fe2O3 catalyst with determining the ratio effect of Co:Mo metal impregnation and the effect of its concentration. The steps included: (1) synthesis of hematite (α-Fe2O3) with precipitation method, (2) impregnation of Co-Mo metal on hematite (α-Fe2O3) using the wet impregnation method with the ratio of addition of Co-Mo metal with 1:2; 1:1; 2:1, (3) catalytic cracking of Off Grade CPO using Co-Mo/α-Fe2O3 catalyst with concentration of 0.5%; 1%; and 1.5% w/w, and (4) Characterization and identification of biogasoline components using GC-MS and FTIR. The results showed that Co-Mo/α-Fe2O3 catalyst was successfully synthesized as confirmed by XRD and SEM. The best catalytic cracking of Off Grade CPO was carried out by 0.5% w/w Co-Mo(1:1)/α-Fe2O3 catalyst which produced biogasoline yield of 31.37%. The characteristics of the best synthesized biogasoline included density of 0.77 g/cm3, viscosity of 2.561 cSt, refractive index of 1.454, acid number of 56.793 mg KOH/g, and iodine number of 100.515 g I2/100 g. The main component of biogasoline was undecane compound. [ABSTRACT FROM AUTHOR]