The kinetics of the oxidative polycondensation of 2,6-xylenol have been studied as a function of cocatalyst (amine) and substrate (xylenol) concentration, and the partial pressure of oxygen. Under given conditions the reaction is of the first order with respect to each of the components. This indicates that molecular oxygen participates in the reaction cycle not only as a reoxidizing agent but also as an important ligand of the actual catalytic complex.