Rubber (Hevea brasiliensis) wood powder was liquefied in phenol using hydrochloric acid (HCl) as a catalyst and the influence of various process variables on liquefaction efficiency was studied. Experiments were carried out to study the effect of temperature, liquid ratio (phenol to wood ratio) and catalyst content on liquefaction efficiency. Liquefaction efficiency of 49% to 82% was achieved under different reaction conditions. Analysis of variance (ANOVA) indicated that the main effect of all the factors and interaction effect of the linear component of liquid ratio and the quadratic component of catalyst content are significant on liquefaction efficiency at the 5% level of significance. Based on the ANOVA, a non-linear regression equation was obtained to predict the liquefaction efficiency for rubber wood meal at a given experimental condition (temperature, liquid ratio and catalyst content). The liquefaction efficiency was found to be more sensitive at the lower levels of factors. There was no significant increase in liquefaction efficiency above 120°C at any liquid ratio. The residual contents after liquefaction were characterised by FTIR spectroscopy. The spectra of the residual content indicated a complete dissolution of lignin and hemicellulose leaving some cellulosic part of wood as a residual.