Using oxygen as oxidant，the desulfurization of catalytic cracking gasoline by oxygen oxidation and solvent extraction is carried out，and oxidation kinetics is also studied.The experimental results show that the conversion of organic sulfides goes up with increasing amount of phase transfer catalyst，oxidation temperature，oxygen pressure，reaction time and the ratio of water to gasoline.The enhancement of oxidation conditions is in favor of desulfurization rate，but leads to decrease of gasoline recovery yield.Based on oxidation kinetics and principles of extraction phase equilibrium，two models，one for desulfurization rate and the other for gasoline recovery yield，are deduced.The parameters in the models are calculated and statistical test is carried out.The prediction analysis with the models show that both fit well with experimental results.