A method is disclosed for regenerating a used catalyst mixture comprising (i) an isomerization catalyst comprising magnesium oxide and (ii) a metathesis catalyst comprising an inorganic carrier and at least one of molybdenum oxide and tungsten oxide. The method comprises (a) decoking the used catalyst mixture in the presence of an oxygen-containing gas to produce a decoked catalyst mixture; and (b) contacting the decoked catalyst mixture with steam at a temperature in the range of 100 to 300° C. to produce a regenerated catalyst mixture.