An integrated process for the production of ether-rich liquid fuels containing MTBE and TAME by etherifying a hydrocarbon feedstock containing C.sub.4 + isoalkenes in the presence of a high stoichiometric excess of lower alkyl alcohol. Unreacted alcohol and olefins are passed to a zeolite catalyzed conversion reactor under olefinic and oxygenates conversion condition whereby gasoline and light hydrocarbons are produced. The light hydrocarbon fraction comprising C.sub.4 -C.sub.5 paraffins is dehydrogenated and C.sub.4 -C.sub.5 olefins are recycled to the etherification reactor.