The liquefaction and reuse of plant biomass have attracted the attention of researchers because the fossil energy is running out gradually, corn stalk waste is rich and can be converted into high quality biofuels through the liquefaction process. The effects of polyethylene glycol on the atmospheric liquefaction yield of corn stalk and the properties of biofuel products were investigated. It was found that the optimal temperature was 170 ℃, reaction time was 60 min, liquid solid ratio was 5:1, catalyst concentrated phosphoric acid dosage was10%, the maximum liquefaction rate reached 97.19%. GC-MS analysis showed that the composition of biofuels is complex, which mainly including alcohols, organic acids, esters, ketones, sugars and other compounds. Results of FT-IR demonstrated that the characteristic functional groups of cellulose, hemicellulose and lignin in liquefied corn stalk were almost completely disappeared, SEM analysis showed that the surface morphology of liquefaction residue and original corn stalk was completely different, the fiber structure could not be seen in the residue, all these phenomenons indicating that corn stalk was completely liquefied.