A selective catalytic cracking process of natural gas liquid fraction to light olefins and other products is described, the process includes placing in contact (within a reaction zone) said liquid fraction of natural gas, rich in C5+ paraffins, with an MFI type zeolitic catalyst in acid form, having a pore size of at least 4 Angstroms, a silica/alumina ratio of between 10 and 2000, and where the processing conditions involve a temperature of between 350° C. and 650° C., space velocity of between 2 and 100 h−1 and atmospheric pressure, and afterwards carrying out the catalytic cracking to separate products, to recover a product enriched with light olefins, LPG fractions, and aromatics, and where the production of olefins is favored in conditions of higher space velocities, while the production of LPG fractions and aromatics are favored in conditions of lowered space velocities.