In this paper, NiRu, NiRh, and NiPd catalysts were synthesized and evaluated in the hydrogenolysis of lignin C–O bonds, which is proved to be superior over single-component catalysts. The optimized NiRu catalyst contains 85% Ni and 15% Ru, composed of Ni surface-enriched, Ru–Ni atomically mixed, ultrasmall nanoparticles. The Ni85Ru15 catalyst showed high activity under low temperature (100 °C), low H2 pressure (1 bar) in β-O-4 type C–O bond hydrogenolysis. It also exhibited significantly higher activity over Ni and Ru catalysts in the direct conversion of lignin into monomeric aromatic chemicals. Mechanistic investigation indicates that the synergistic effect of NiRu can be attributed to three factors: (1) increased fraction of surface atoms (compared with Ni), (2) enhanced H2 and substrate activation (compared with Ni), and (3) inhibited benzene ring hydrogenation (compared with Ru). Similarly, NiRh and NiPd catalysts were more active and selective than their single-component counterparts in the hydrogenolysis of lignin model compounds and real lignin.