Molten salt has good thermochemical stability, large thermal conductivity, and low melting point, and is believed as a promising reaction medium and catalyst. The present study investigated the cracking and steam reforming behavior of toluene in ternary eutectic carbonates(Li2CO3-Na2CO3-K2CO3), and analyzed the products. The results show that toluene cracking produces a lot of carbon, some liquid polycyclic aromatic hydrocarbons(PAHs), and gases such as CH4 and H2. And the conversion of toluene increases with temperature. The molten salt enhances the fracture of the C—H bond on methyl group, increasing the production of gases and PAHs. Water vapor alteres the thermochemical conversion pathway of toluene, and increases the production of H2, CO, and CO2, while reduces the production of PAHs. Water vapor can also eliminate some of carbon deposits and inhibit the graphitization of carbon deposits. The molten salt has catalytic effect on the thermochemical conversion of toluene with steam, which further reduces the amount of carbon deposits and increases gas yield.