In this study is presented a general methodology to predict the performance of a continuous near-critical fluid extraction process to remove compounds from aqueous solutions using a hollow fiber membrane contactor. The stabilization of the gas-liquid interface in the membrane porosity and a high surface area to contact both phases represent some of the advantages that hollow fiber contactors offer over conventional contactor devices for the extraction of compounds from liquid feeds. A mathematical model has been developed integrating a resistances-in-series mass transfer system that takes into account boundary layers, membrane porosity and thermodynamic considerations with mass balances of the membrane contactor. Simulation algorithms were easily implemented with low calculation requirements. The system studied in this work is a membrane based extractor of ethanol and acetone from aqueous solutions using near-critical CO2. Predictions of extraction percentages obtained by simulations have been compared to the experimental values reported by Bothun et al. [2003a. Compressed solvents for the extraction of fermentation products within a hollow fiber membrane contactor. Journal of Supercritical Fluids 25, 119-134]. Simulations of extraction percentage of ethanol and acetone show an average difference of 36.3% and 6.75% with the experimental data, respectively. More accurate predictions of the extraction of acetone could be explained by a better estimation of the transport properties in the aqueous phase that controls the extraction of this solute. When the model was validated, the effect of the configuration and the operating parameters was studied and local mass transfer resistances were evaluated. The proposed approach allows the evaluation of the relevance of membrane hydrophobicity for extraction in solutions under different thermodynamic conditions. This original methodology based on well-known phenomenological equations represents a general approach which could be applied in other processes using membrane contactors with different configurations. (C) 2007 Elsevier Ltd. All rights reserved.