A process for the production of low sulfur, low olefin gasoline wherein a cracked naphtha, such as a full boiling range cracked naphtha, is first separated by fractional distillation into at least two fractions while simultaneously selectively hydrogenating the polyunsaturated compounds contained therein. The mono olefins in the light fraction are then subjected to etherification with alcohol to produce ethers or hydration with water to produce alcohols. The heavy fraction is subjected to sulfur removal by hydrodesulfurization or chemisorption. The two fractions are then combined to produce a low sulfur, low olefin gasoline.