Thermophilic waste air treatment in a lab-scale bubble column reactor (BCR) was used to remove an ethyl acetate/toluene mixture under both mesophilic and thermophilic conditions, at 30–50 °C. Additional tests, e.g., toluene mass transfer measurement and monitoring of microbial population development, explained the observed bioreactor response to the conducted loading tests and temperature changes. The maximum overall elimination capacity at thermophilic conditions (50 °C) was 136.9 g·m−3 h-1, however hysteresis in elimination capacity was observed in response to ascending/descending temperature and inlet concentration changes. Representatives of genera Cupriavidus, Variovorax and order Rhodospirillales were found to be predominant in the degrading microbial population, depending on the operating temperature. Thermobacillus and Blastocatella were abundant at high (50 °C) and low (30 °C) temperatures, respectively. The observed gradual shift in microbial population caused a small yet significant gradual change in developing a preference for toluene at the expense of ethyl acetate, which explains the observed hysteresis. Yet, the whole bioreactor removal efficiency remained similar at the same temperature, thus demonstrating the advantages of using thermophiles in bioreactors with temperature variation, such as robustness and flexibility.