An integrated process for production of ultra low sulfur products of high octane gasoline, high aromatic naphtha and high Cetane Diesel from high aromatic middle distillate range streams from any cracker units such as Light Cycle Oil (LCO) stream of Fluid catalytic cracking (FCC) units and subjected to hydrotreating for removal of heteroatoms like sulfur and nitrogen. The effluent from hydrotreating is subjected to hydrocracking at same pressure of hydrotreating step above for selective opening of saturated ring of multi-ring aromatics. The effluent from hydrocracking is separated in CUT-1, CUT 2 in which the monoaromatics and alkylated monoaromatics are concentrated and CUT-3 in which concentration of saturates significantly increased. The CUT-3 is selectively oxidized in selective oxidation step in presence of catalyst, an oxidizing agent and operating conditions such that it results in diesel product with more enhanced Cetane.