Catalyst compositions comprising a phosphorous-promoted ZSM-5 component and a silica-containing binder, and methods for making and using same, are disclosed. More, specifically, processes for making a catalyst for biomass conversion are provided. The process includes: treating a ZSM-5 zeolite with a phosphorous-containing compound to form a phosphorous-promoted ZSM-5 component; preparing a slurry comprising the phosphorous-promoted ZSM-5 component and a silica-containing binder; and shaping the slurry into shaped bodes. Such catalysts can be used for the Thermocatalytic conversion of particulate biomass to liquid products such as bio-oil, resulting in higher bio-oil yields and lower coke than conventional catalysts.