A process is provided to produce high cetane quality and low or preferably ultra low sulfur diesel and a fluid catalytic cracker (FCC) quality feedstock from a processing unit including at least a hydrotreating zone and a hydrocracking zone. In one aspect, the processing unit includes reactor severity requirements in both the hydrotreating zone and the hydrocracking zone effective to produce the FCC feed quality and the diesel sulfur quality to permit a high quality hydrocracked product to be formed at lower pressures and conversion rates without overtreating the FCC quality feedstock stream. In another aspect, a portion of the hydrotreated effluent is selected for conversion in the hydrocracking and the remaining portion of the hydrotreated effluent is directed to subsequent processing, such as fluid catalytic cracking.