New oxocarbenium perchlorates, [(C2H5)((4-n))C(CH2OCH2CH2CO+ClO4-)(n), n = 3, 4] were synthesized and used in the preparation of poly (tetrahydrofuran) (PTHF) polyols. The structures of PTHF polyols and corresponding hydrolysis products were determined by H-1-NMR and FTIR. GPC curves showed that the amount of cyclic oligomers was negligible. The polymerization process was followed by gas chromatography. Kinetic studies showed no termination reaction. The mechanism of the polymerization was discussed.