NOVELTY - Continuous process for converting carbonaceous material to liquid hydrocarbon product, involves converting part(s) of carbonaceous material by pressurizing feed mixture under pressure of 50-400 bar, heating feed mixture to 250-500 degrees C, maintaining pressurized and heated feed mixture in desired pressure and temperature in a reaction zone for a predefined time, cooling feed mixture to 25-200 degrees C, and expanding feed mixture under pressure of 1-70 bar, and separating fraction comprising liquid hydrocarbon product and leaving residual fraction.    USE - Continuous process for converting carbonaceous material to liquid hydrocarbon product.    ADVANTAGE - The method enables efficient and economical conversion of carbonaceous material to liquid hydrocarbon product with excellent storage stability, by simple method.    DETAILED DESCRIPTION - Continuous process for converting carbonaceous material to liquid hydrocarbon product, involves converting part(s) of carbonaceous material by pressurizing feed mixture under pressure of 50-400 bar, heating feed mixture to 250-500 degrees C, maintaining pressurized and heated feed mixture in desired pressure and temperature in a reaction zone for a predefined time, cooling feed mixture to 25-200 degrees C, and expanding feed mixture under pressure of 1-70 bar such that carbonaceous material is converted to liquid hydrocarbon product, and separating fraction comprising liquid hydrocarbon product and leaving residual fraction. The feedstock contains feedstock of biomass and feedstock of lignite and/or peat, and includes carbonaceous material containing fluids including water and liquid organic compounds in concentration of 1 weight% or more. INDEPENDENT CLAIMS are included for the following:    (1) pre-treatment for providing feed mixture;    (2) apparatus for continuous conversion of carbonaceous material;    (3) conversion reactor;    (4) mixing device; and    (5) feed mixture.    DESCRIPTION OF DRAWING(S) - The drawing shows schematic view of apparatus for continuous conversion of carbonaceous material.    Pretreatment device (1)    Pressurization pump (2)    Heat exchangers (3,4,5)    Heater (7)    Fuel (8)