The kinetics of fungal peroxidase-catalyzed phenolic compounds (PCs) oxidation was investigated in presence of acetylenic-based surfactant Dynol 604 at pH 5.5 and 25°C. It was shown that the presence of ppm concentrations of surfactant did not influence initial rate of PCs oxidation. The calculated apparent bimolecular rate constants were (1.8±0.2)×10 5 M −1 s −1 , (1.4±0.4)×10 7 M −1 s −1 , (1.30±0.06)×10 7 M −1 s −1 and 1.1×10 8 M −1 s −1 for phenol, 1-naphthol, 2-naphthol and 1-hydroxypyrene, respectively.During an extensive substrates conversion Dynol 604 showed diverse action for different PCs. The oxidation of phenol practically did not change, whereas the surfactant enhanced the conversion of 1- and 2-naphthol and 1-hydroxypyrene in dose response manner. The results accounted by a scheme, which contains a stadium of enzyme inhibition by oligomeric PC oxidation products. The action of the surfactant was explained by avoidance the enzyme active center clothing with the oligomers. The results acquired demonstrate a remarkable increase of substrates conversion in the presence of Dynol 604.