For the last couple of decades, the Fenton (-like) systems have been extensively studied for oxidation of organic contaminants in water. Recently, zero-valent iron (ZVI) has received attention as a Fenton catalyst as well as a reducing agent capable of producing reactive oxidants from oxygen. In this study, the ZVI-based Fenton reaction was assessed for the oxidative degradation of phenol using $ZVI/O_2$, $ZVI/H_2O_2$, ZVI/Oxalate/$O_2$ and hv/ZVI/Oxalate/$O_2$ systems. Reaction parameters such as pH and reagent dose (e.g., ZVI, $H_2O_2$, and oxalate) were examined. In the presence of oxalate (ZVI/Oxalate/$O_2$ and hv/ZVI/Oxalate/$O_2$ systems), the degradation of phenol was greatly enhanced at neutral pH values. It was found that ZVI accelerates the Fenton reaction by reducing Fe(III) into Fe(II). The conversion of Fe(III) into Fe(II) by ZVI was more stimulated at acidic pH than at near-neutral pH values.