The interest of a two-step adsorption-oxidation process for treatment of aqueous phenolic effluents has been investigated. This process is based on the use of activated carbon as adsorbent in the first step and as oxidation catalyst in the second step, in a single bi-functional reactor. The main advantage of this process concerns the regeneration-oxidation step, for which only a small quantity of liquid has to be heated and pressurised, reducing then the heat consumption. Calculations and design were performed based on the experimental results obtained separately for the adsorption and the oxidation steps. This two-step adsorption-oxidation process appears to offer good potentialities for treating moderate flow rates of wastewater, especially when the effluent is dilute.