Abstract: A process for producing fuel oil and gas by cracking waste rubber, comprising the reaction of about 2-6 parts catalyst with about 40 parts waste rubber, wherein the catalyst consists of 15%-25% by wt. of CaO, 40%-60% by wt. of Ni, 20%-40% by wt. of XT-10, and traces of Nb and Ti. The reactant is heated to about 280.degree. C. while the pressure of the reactor is increased to about 2 kg/cm.sup.2. The gas products are filtered, condensed, and fractioned into light oil, heavy oil and gas for respective storage. The total reaction time is about 2 hours.