Hydroformylation of limonene has been studied using cobalt carbonyl and rhodium carbonyl catalysts under “oxo reaction” conditions. The aimed β- (4-methyl-Δ3-cyclohexenyl) -butylaldehyde was obtained with theoretical yields of 42 and 52% based on limonene by using bis- (cobalt tricarbonyl tributylphosphine) complex and rhodium carbonyl catalysts, respectively, and the following by-products were isolated and identified from IR, NMR and mass spectral data : 8, 10-dihydro-limonene, 1-hydro-2-formyl-limonene, α- (4-methyl-Δ3-cyclohexenyl) -dimethyl acetaldehyde and β- (3-formyl-4-methyl-cyclohexyl) -butylaldehyde.