An improved process and system for the endothermic dehydrogenation of an alkane stream is described. The process and system of the present invention comprise a back-mixed fluidized bed reactor. The alkane stream is dehydrogenated in a single reactor stage by contacting the alkane stream with a back-mixed fluidized bed of catalyst. Deactivated catalyst is withdrawn from the back-mixed fluidized reactor and heated to produce hot regenerated catalyst. The hot regenerated catalyst is returned to the back-mixed fluidized bed reactor at a rate sufficient to maintain the back-mixed fluidized bed reactor at substantially isothermal conditions.