Abstract: An alkaline solution containing mercaptides is regenerated in an improved process wherein the alkaline solution to be regenerated containing a suitable oxidation catalyst is contacted with an oxygen-containing solvent which is immiscible with said alkaline solution in a reaction zone comprising a plurality of fibers positioned longitudinally within a conduit, whereby the two liquids are in contact while concurrently flowing through said reaction zone during which the mercaptides contained in the alkaline solution are oxidized to disulfides and are simultaneously extracted from the alkaline solution into the solvent solution.