The process of cracking dicyclopentadiene to produce cyclopentadiene using hydrogen as a carrier gas is investigated. This process has many advantages over using N2 or water vapor as a carrier gas for producing anhydrous polymerization level dicyclopentadiene. Factors, including cracking temperature, reaction time, and H2 to oil ratio, are studied. The conversion of dicyclopentadiene increases with the increasing of cracking temperature and reaction time; the yield of cyclopentadiene increases, and then drops a little with the increasing of reaction time. Optimal reaction conditions are as follows: suitable cracking temperature is 320 degrees C, reaction time is 1 sec, and H2 to oil ratio is 50. Cracking temperature of the process is about 30 degrees C lower than using N2 or water vapor as the carrier gas. At the optimal conditions, the conversion of dicyclopentadiene could reach 98%, while the yield of cyclopentadiene is 97%. The reaction kinetic model of the process is also studied, and the model could predict the conversion of dicyclopentadiene well.