The present invention relates to a process for continuous metathesis or disproportionation of olefins, comprising at least 2 phases, a reaction phase a) carried out in a zone comprising at least one reactor containing at least one fixed bed of catalyst and a regeneration phase b) carried out in a zone comprising at least one reactor containing at least one fixed bed of catalyst, characterized in that at least one reactor passes from one phase to the other in alternation. In FIG. 1, the feed containing olefins traverses reactor R1 in riser mode. The feed to be treated containing olefins is introduced into reactor R1 via line 1a. In this reactor, the olefins contained in the feed undergo metathesis or disproportionation, then the effluent leaves the circuit via line 11. Simultaneously, reactor R2 is placed in catalyst regeneration phase, the different regeneration gases are introduced into reactor R2 via line 2b and leave this reactor via line 2c. Passage from the operating phase of a reactor to the catalyst regeneration phase thereof is carried out as follows: the reactor for which the catalyst is to be regenerated is isolated from the remainder of the apparatus, the hydrocarbons contained in the reactor are evacuated, then the reactor is purged. Said reactor is then connected to a regeneration loop and undergoes regeneration of its catalyst, and at the end of the regeneration phase, the reactor and the regeneration loop are purged.