Liquid phase hydrogenation of phenol over Pt/C catalysts was investigated under conventional conditions and supercritical carbon dioxide (scCO2). The equivalent ration of hydrogen to phenol shows a significant effect on the product selectivity. Hydrogenation of phenol in different solvents was also studied, the experimental results show that polarity of solvents influences the yield of cyclohexanone remarkably, scCO2 has the highest one. Catalytic hydrogenation of phenol in scCO2 or sub-scCO2 was emphatically researched. The result is that near the critical point of CO2 phenol has higher reaction activity than that of normal organic solvents, cyclohexanone has 47% in yield and 87% in selectivity.