Liquid-phase catalytic hydrogenation of benzene was studied in a three-phase bench-scale reactor operating in downflow mode at elevated temperatures and pressures. Reaction kinetics and external gas-liquid mass transfer effects for the system used are estimated. A simplified kinetic expression is used to describe intrinsic kinetics. An analytical model for reactor simulation has been employed incorporating vapor-liquid equilibrium, solvent effects, and mass transfer limitations. Gas- and liquid-side mass transfer coefficients are extracted for the range of the gas and liquid feed flow rates employed in this work. A comparison between the mass transfer values estimated in this work and values from correlations and data reported in the literature is presented. Operation in upflow mode is also compared with downflow mode, and the different reactor performance is discussed.