The essential oil of basil (Ocimum basilicum L.) has high economic value and is produced in the plant by secondary metabolism. Its quantity and composition tend to vary as a response of the plant to stress situations due to changes in the environment and phenological phase. This work aimed to evaluate the development, the chemical composition, content, and the yield of essential oil of basil rich in Linalool, as a function of the soil water tensions and the harvest stages, in a loam texture soil. The experiment was carried out in a greenhouse and consisted of three harvest times (BF - beginning of flowering, FF - full flowering, and EF - end of flowering) and five values of soil water tension to define when to irrigate (20, 30, 40, 50, and 60 kPa), totalizing 15 treatments. The irrigation in the soil water tension of 60 kPa generated a reduction in the content and the yield of essential oils compared with 20 kPa, only in the FF harvest stage. However, it did not modify the composition of the essential oil. Regardless of the soil water tension to define irrigation, the highest levels and yields of essential oil were found in the EF harvest stage. Harvest stages did not change the composition of the essential oil or the content of Linalool. In turn, the contents of the components Cineol, Camphor, ∝-Terpeneol, and Isobornyl acetate increased with the harvesting period from BF to EF. Eugenol had the opposite trend, reducing the content from BF to EF. Linalool, a component in greater proportion in essential oil, showed a higher content in soil water tensions up to 50 kPa, decreasing only by 60 kPa. In loam textured soils, it is recommended that basil producers, who aim to extract Linalool, irrigate when the soil water tension reaches up to 50 kPa, with the harvest at any stage of flowering.