Nitrous oxide (N 2 O) is a greenhouse gas with high global warming potential. Currently, only a small part of concentrated industrial N 2 O emissions is used to obtain valuable chemical products. Most of these emissions are neutralized by thermal or catalytic decomposition, which is associated with additional costs and, in the case of a thermal process, is accompanied by the formation of significant amounts of carbon dioxide. In the present work, nitrous oxide was used for the first time for the oxidative treatment of light catalytic cracked gasoline (LCCG). LCCG is one of the blending components of motor gasoline. However, it contains a significant amount of olefins, which negatively affects the storage stability of fuel. The conversion of olefins into oxygenates is one of the promising approaches to improving the performance of gasoline fuels. The treatment of LCCG with N 2 O was performed noncatalytically in the liquid phase at 473−523 K and elevated pressure. Under these conditions, N 2 O selectively oxidizes only olefinic compounds in LCCG to form carbonyl products (mainly ketones) and molecular nitrogen without affecting other components of LCCG. An increase in the content of oxygen, which was introduced into gasoline from N 2 O as the carbonyl product, to 2.3 wt % is accompanied by a nearly proportional growth of antiknock indexes from 88.2 for the parent LCCG to 89.5 for the most oxygenated LCCG.