The instant invention relates to a novel hydrocracking process wherein carbon-carbon bonds are ruptured and carbon-hydrogen bonds are formed in the presence of hydrogen and a catalyst comprising platinum, iridium and rhodium supported on an inorganic refractory oxide. This process relates to the dealkylation of alkyl aromatics to form lower molecular weight aromatics, for example, alkylbenzenes such as ethylbenzene, xylene, toluene, etc. may be converted to benzene in the process of the instant invention. The process can also be used to convert a gas-oil fraction to gasoline by converting the higher molecular weight constituents of the gas-oil fraction to lower molecular weight products.