A lipase-catalyzed enantioselective hydrolysis process under conditions of continuous in situ racemization of substrate with trioctylamine as the catalyst was developed for the production of (S)-suprofen from (R,S)-suprofen 2,2,2-trifluoroethyl thioester in isooctane. A detailed investigation of trioctylamine concentration on the enzyme activation and stability as well as the kinetic behaviors of the thioester in racemization and enzymatic reaction was conducted, in which good agreement between the experimental data and theoretical results was observed. A complete conversion of the racemate for the desired (S)-suprofen in 95% ee(P) was obtained. Moreover, the recovery of the acid product by extraction and reuse of the organic solution were reported.