Oxidation of 3-hydroxy-2-butanone, CH3COCHOHCH3 to 2,3-butanedione, CH3COCOCH3, by ferricenium cations, Fe(CsH&@, has been studied in acidic 50 vol % aqueous ethanol. At ferricenium ion concentrations above 0.5 x 10-3 mole. 1-1 the rate of reaction is independent of this concentration. Enolization is suggested to be rate determining. The influence of acid concentration and of oxygen has been studied.