This work demonstrates important factor influencing the reusability of the phase transfer catalyst in the third liquid phase in addition to the role of the possible loss of catalyst due to the dissolution of the catalyst into the aqueous and organic phases. When the catalyst might react with the byproducts, in addition to reacting with the organic substrate and aqueous nucleophile, it would lose its catalytic activity. The substitution reaction between the organic substrate and an aqueous nucleophile (sodium phenolate) with tetra-n-butylammonium bromide as a phase-transfer catalyst was employed as a model reaction and was performed in a batch reactor. Three organic substrates, including allyl bromide, n-butyl bromide, and ethyl 2-bromoisobutyrate, were tested. Each of the third liquid phases formed in these tri-liquid-phase catalytic systems was utilized three times to observe the change in the activity of the catalyst. The catalyst in the third liquid phase can be reused without any loss of its catalytic activity when allyl bromide or n-butyl bromide is utilized as the organic substrate; however, the catalytic activity declines when ethyl 2-bromoisobutyrate is the organic reactant. Therefore, the organic reactant plays a crucial role in determining whether the catalyst can be reused or not.