A process for upgrading a heavy hydrocarbon feed includes the steps of: providing a hydrocarbon feedstock including a fraction having a boiling point greater than or equal to about 320.degree. C.; mixing the feedstock with steam so as to provide a reaction feedstock; providing a catalyst including a first metal selected from the group consisting of Group VIII non-noble metals and a second metal selected from the group consisting of alkali metals, the first and second metals being supported on a support selected from the group consisting of kaolin, alumina, silica, carbon, petroleum cokes and mixtures thereof; and contacting the reaction feedstock with the catalyst at steam conversion conditions so as to provide a reaction product including an upgraded hydrocarbon fraction.