Catalytic hydrocracking represents an optimal process for both heavy petroleum fractions and Fischer−Tropsch (FT) wax upgrading because it offers high flexibility regarding the feedstock, reaction conditions and products’ quality. The hydrocracking of a heavy vacuum gas oil with FT wax was carried out in a continuous-flow catalytic unit with a fixed-bed reactor and a co-current flow of the feedstock and hydrogen at the reaction temperatures of 390, 400 and 410 °C and a pressure of 8 MPa. The increasing reaction temperature and content of the FT wax in the feedstock caused an increasing yield in the gaseous products and a decreasing yield in the liquid products. The utilisation of the higher reaction temperatures and feedstocks containing the FT wax showed a positive influence on the conversion of the fraction boiling above 400 °C to lighter fractions. Although the naphtha and middle distillate fractions obtained via atmospheric and vacuum distillations of the liquid products of hydrocracking did not comply with the particular quality standards of automotive gasolines and diesel fuels, the obtained products still present valuable materials which could be utilised within an oil refinery and in the petrochemical industry.