The present invention relates to a process for preparing 3-methyl-2-butenol (prenol) and 3-methyl-2-butenal (prenal) from 3-methyl-3-butenol (isoprenol), in which 3-methyl-3-butenol is subjected to a catalytic isomerization over a carbon-supported Pd catalyst in the presence of a gas mixture comprising 1% to 15% by volume of oxygen to obtain a first product mixture, and the first product mixture is subjected to an oxidative dehydrogenation over a Pd catalyst comprising SiO2 and/or Al2O3 as support material, or over a carbon-supported Pd/Au catalyst in the presence of a gas mixture comprising 5% to 25% by volume of oxygen.