The promoting effect of ultrasonic wave on the hydrodynamics and mass transfer characteristics of the loop airlift reactor was studied. The gas holdup, liquid circulation velocity, mixing time and overall volumetric mass transfer coefficient were examined and compared, with and without ultrasonic wave in the reactor. The experimental results show that ultrasound has almost no notable effect on the gas holdup, but has a tendency to decrease gradually the liquid circulation velocity and increase the overall volumetric mass transfer coefficient; and the effect on the mixing time is relatively complex. At low superficial gas velocity, the low powered ultrasound promotes the radial mixing of fluid; with the ultrasonic power increasing, ultrasonic vibration obstructs the axial mixing of fluid. Moreover, the effect of ultrasonic wave on the mixing time gradually decreases with the increase in the superficial gas velocity. Therefore there exists an optimal ultrasonic power for hydrodynamics and mass transfer. Correlations were also proposed for the hydrodynamics and mass transfer characteristics of the reactor.