The present invention provides a process for producing liquid hydrocarbon products from a solid biomass feedstock, said process comprising the steps of: a) providing in a first hydropyrolysis reactor vessel a first hydropyrolysis catalyst composition; b) contacting the solid biomass feedstock with said first hydropyrolysis catalyst composition and molecular hydrogen in said first hydropyrolysis reactor vessel to produce a product stream comprising partially deoxygenated hydropyrolysis product, H2O, H2, CO2, CO, C1-C3 gases, char and catalyst fines; c) removing said char and catalyst fines from said product stream; d) hydroconverting said partially deoxygenated hydropyrolysis product in a hydroconversion reactor vessel in the presence of one or more hydroconversion catalyst and of the H2O, CO2, CO, H2, and C1-C3 gas generated in step a), to produce a vapor phase product comprising substantially fully deoxygenated hydrocarbon product, H2O, CO, CO2, and C1-C3 gases.