We report the effect of Co incorporation into a SiO2-Al2O3 supported catalytic system on the conversion, selectivity, and stability for the catalytic conversion of methyl oleate into diesel grade hydrocarbons with systematic changes in reaction parameters including temperature, time and hydrogen pressure. A series of cobalt loaded (4-12 wt\%) SiO2-Al2O3 catalysts were prepared by a simple wet impregnation method. The formation of a Co3O4 active catalyst phase and its homogenous dispersion on the SiO2-Al2O3 surface is revealed successively by XRD and TEM. The results showed that the formation of a Co3O4 phase over CoO/Co, the amount of Co loading, reaction time, temperature and H-2 pressure greatly determine the conversion and selectivity. Total ester conversions with more than 50\% selectivity towards n-heptadecane/n-octadecene were achieved at a temperature as low as 280 degrees C and 15 bar H-2 pressure within 10 h using a 6\% cobalt loaded catalyst. Significant hydrocracking was observed at higher metal loading under similar reaction conditions.