The effect Of CO2 as a green additive on the reaction rate of transesterification of glycerol monostearate with methanol was studied at 333.15 and 343.15 K up to 10.5 MPa. It was demonstrated that addition Of CO2 in the reaction system could increase the reaction rate significantly. The phase behavior of the CO2+methanol+ glycerol monostearate ternary system was also determined at 333.15 and 343.15 K. It is shown that addition Of CO2 can enhance the miscibility of the reactant. The main reasons for the reaction rate enhancement are that CO2 can enhance the miscibility of the reactants, reduce the viscosity of the reaction mixture, and increase the diffusion coefficients of the reactants.