The trioctylamine (TOA)/methylene chloride (MC)/n-hexane system was used as the extraction agent for the extraction of lactic acid. Curves of equilibrium and hydration were obtained at various temperatures and concentrations of TOA. A modified mass action model was proposed to interpret the equilibrium and the hydration curves. The reaction mechanism and the corresponding parameters which best represent the equilibrium data were estimated, and the concentration of water in the organic phase was predicted by inserting the parameters into the simple mathematical equation of the modified model. The concentration of MC and the change of temperature were important factors for the extraction and the stripping process. The stripping was performed by a simple distillation which was a combination of temperature-swing regeneration and diluent-swing regeneration. The type of inactive diluent has no influence on the stripping. The stripping efficiencies were about 70%.