The reaction of the liquid-phase oxidation of p-cymene to hydroperoxide with a selectivity of up to 95% at a hydrocarbon conversion of 25-30% has been studied at a reaction temperature of 80-120A degrees C in the presence of N-hydroxyphthalimide as the catalyst. The catalytic role of N-hydroxyphthalimide has been substantiated. A kinetic model of the liquid-phase oxidation reaction in the presence of the catalyst N-hydroxyphthalimide has been developed and adequately described.