The conversion of high-sulfur oil shale in a flow of supercritical benzene under pressure of 10 MPa and temperatures up to 400°C is studied. The composition of the formed liquid products is characterized by the methods of IR- and 1H NMR-spectroscopy, structural group analysis, and chromato-mass spectrometry. It is shown that the content of resin and asphaltene compounds in the pyrolyzates decreases with the increase of temperature and the fraction of aromatic fragments in their composition increases, while the fraction of aliphatic fragments decreases. The amount of polar components decreases in the oily fraction. The compounds identified in the oils are represented by normal and branched alkanes; alkenes; saturated and unsaturated naphthenes; and mono-, bi-, tri-, tetra-, and pentacyclic aromatic hydrocarbons; as well as compounds of thiophene-, benzo-, dibenzo-, and naphthothiophene series, aliphatic ethers, and ketones.