The present invention provides a novel route for synthesis and production of linear alpha olefins (LAO) and central olefins from the feedstock comprising fatty acids, triglycerides and esters of fatty acids, and mixture thereof through controlled hydrogenolysis, hydrogenation and dehydration reactions simultaneously in a hydro processing reactor containing a catalyst system having dual site—a metallic site for hydrogenation/reduction reaction under hydrogen environment, and an acidic site for conversion of alcohol to olefin via E1 or E2 reaction mechanism.