Adsorption properties were determined by liquid phase chromatography for a new type of partial oxidation catalyst : an Fe-Phthalocyanine complex synthesized in a NaY zeolite. In the case of partial oxidation of cyclohexane to cyclohexanol and cyclohexanone with t-butylhydroperoxide, diffusion does not limit the reaction. The partition coefficients and limited multicomponent equilibrium data are extracted from perturbation liquid chromatography measurements for all components in the reaction mixture. Highly selective adsorption of polar compounds on the complex determines the concentrations on the active site, and hence the reaction rates. Changes in Si/Al ratio of the zeolite framework has only a limited influence. Performance of such catalysts can then be explained on the basis of the adsorption data.