Abstract: A reactivated catalyst having optimum activity for hydrocracking and other acid catalyzed chemical conversion processes is prepared by contacting its deactivated counterpart, which contains a crystalline molecular sieve, a Group VIII noble metal hydrogenation component and carbonaceous deposits, with a gas containing molecular oxygen, preferably air, at a temperature between 950.degree. and 1200.degree. F., preferably between about 1050.degree. and 1150.degree. F., for a time sufficient to remove at least a portion of the carbonaceous deposits. When the reactivated catalyst contains a dealuminated Y zeolite that has been ion-exchanged with both noble metal and rare earth metal cations, its activity for hydrocracking in an ammonia-deficient atmosphere can be further increased by a rejuvenation procedure in which the reactivated catalyst is contacted with an aqueous ammonia solution in which an ammonium salt has been dissolved.

Abstract: Highly active, hydrothermally stable and ammonia-stable Y zeolite compositions are disclosed, which compositions are useful as adsorbents, hydrocarbon conversion catalysts, and as acidic supports for catalytic metals. The stabilized Y zeolite composition is prepared from a sodium Y zeolite by a novel sequence of: (1) partial exchange of ammonium ions for sodium ions, (2) steam calcination under controlled conditions of time, temperature and steam partial pressure, and (3) further ion exchange of ammonium ions for sodium ions to reduce the final Na.sub.2 O content to below about one weight-percent.