A Ru-loaded carbon material with characteristic surface chemistry (Br∅nsted acidic phosphate groups, Lewis basic N-groups selected from the group consisting of Lewis basic pyridinic, pyrrolic and quaternary N-groups and oxygen functional groups) is shown to exhibit excellent activity, selectivity and stability upon hydrogenation of aqueous levulinic acid (0.47M and 0.95M) to γ-alerolactone with near stochiometric H2 under mild conditions (80-95°C). The material demostrated remarkable stability in a fixed-bed reactor under continuous flow conditions, maintaining high activity, and γ-valerolactone selectivity during ∼ 1250h time on stream operating at 3-5 bar, 80-95 °C and low H2/levulinic acid ratio (4-17). The exceptional catalytic performance and stability of the multifunctional Ru-catalyst was attributed to the unique surface chemistry of carbon support that stabilized the Ru nanoparticles on the surface nitrogen and oxygen defects, and promoted 4-hydroxypentanoic acid cyclization over acidic phosphate and RuOx/RuO2 sites.