A process for permeation enhanced reactive extraction of levulinic acid from a liquid aqueous phase comprising levulinic acid, wherein the levulinic acid from the aqueous phase is brought into contact with a liquid alcohol phase at esterification conditions in the presence of a catalyst at a temperature in the range of from 50 to 250.degree. C., the aqueous phase and the alcohol phase being separated from each other by a membrane, and an aqueous stream depleted in levulinic acid and an alcohol stream comprising ester of levulinic acid are formed.