The invention discloses a separation method for phenolic compounds in coal tar and a direct coal liquefaction product, and solves the problems of safety, economical efficiency and environmental protection in existing separation methods. The technical scheme includes: adding a complexing separation agent into coal tar and a direct coal liquefaction product for complexing separation reaction, then heating the complexing phase for selective separation of neutral oil, adding water and conducting back extraction, and finally carrying out evaporation and concentration to obtain a regenerated complexing separation agent and water. The method provided by the invention has the advantages of simple process, environmental friendliness, low production cost and equipment investment, low operation difficulty, no use of ether or ester compound and high grade medium pressure steam, and high recovery rate of the complexing agent.