This study intends to analyze physical and chemical changes using Thermo-Gravimetric Analysis (TGA) of MGO-bioethanol mixed fuel oil. We will analyze the thermal stability and state changes of MGO-Bioethanol mixed fuel oil and conduct and utilize various basic experiments on its applicability as ship fuel oil in the future and eco-friendly alternative fuels. The physical and chemical conditions set through this experiment were set through non-isothermal heating at about 20°C to 933°C, and the heating rate was 100°C/min, the measurement time was 10 minutes, and the amount of samples in each mixed fuel oil was about 18mg-24mg. In the range of pyrolysis temperatures from 235.241°C to 253.320°C, the weight of BE0 was 30.992%, BE10 was 36.199.%, BE20 was 35.879%, and BE30 was 35.725%, indicating that the pyrolysis temperature and weight tended to increase as the bioethanol content increased.