A mathematical model of the ozonation of solution of organic compounds in bubble columns is formulated in the paper. The model refers to the plug flow of gas and liquid for which ideal mixing, plug flow or dispersion flow was assumed. It reflects both the effect of mass transfer resistance in the gas phase on the resultant process rate and the diffusion of ozone and organic compound with a simultaneous complex chemical reaction in the liquid phase. A numerical simulation of the model for various operating conditions for ozonation of aqueous phenol solutions was carried out. The effect of dispersion component on ozone and phenol concentrations in the liquid phase was assessed.