The invention relates to a process for producing LPG and BTX, comprising a) subjecting a mixed hydrocarbon feedstream to first hydrocracking in the presence of a first hydrocracking catalyst to produce a first hydrocracking product stream; b) separating the first hydrocracking product stream to provide at least a light hydrocarbon stream comprising at least C2 and C3 hydrocarbons, a middle hydrocarbon stream comprising C4 and/or C5 hydrocarbons and a heavy hydrocarbon stream comprising at least C6+ hydrocarbons and c) subjecting the heavy hydrocarbon stream to second hydrocracking to produce a second hydrocracking product stream comprising BTX, wherein the second hydrocracking is more severe than the first hydrocracking, wherein at least part of the middle hydrocarbon stream is recycled back to the first hydrocracking in step a).