A method of producing cyclopentene comprising the steps of depolymerizing dicyclopentadiene to produce raw cyclopentadiene; feeding the raw cyclopentadiene to a distillation tower having an upper part cooled to a temperature near the boiling point of the cyclopentadiene and an outlet maintained at 35.degree. to 60.degree. C and a lower part at a temperature of 40.degree. to 150.degree. C; thereby to produce highly pure gaseous cyclopentadiene at the top outlet and impure components having high boiling point at the lower outlet which are removed continuously; mixing the highly pure cyclopentadiene obtained thereby with hydrogen and reacting in a first hydrogenation reactor using a palladium containing catalyst, then mixing the resulting product with hydrogen and reacting in a second hydrogenation reactor with a palladium containing catalyst; cooling the resulting product and separating the liquid phase from the gas phase and recirculating the gas phase for use in the hydrogenation reactions.