Ethanol (C(2)H(5)OH) adsorption, decomposition and oxidation is studied on Ir(111) using high-energy resolution, fast XPS and temperature-programmed desorption. During heating of an adsorbed ethanol layer a part of the C(2)H(5)OH(ad) desorbs molecularly, and another part remains on the surface and decomposes around 200 K; these two decomposition pathways are identified, as via acetyl (H(3)C--C=O) and via CO(ad)+CH(3ad), respectively. Acetyl and CH(3ad) decompose around 300 K into CH(ad) (and CO(ad)). CH(ad) decomposes forming C(x) and H(2) around 520 K. In the presence of O(ad) an acetate intermediate is formed around 180 K, as well as a small amount of CH(3ad) and CO(ad). Acetate decomposes between 400-480 K into CO(2), H(2)(/H(2)O) and CH(ad).