The disclosed is about a hydroformylation reaction of a cyclic olefin in the presence of a rhodium catalyst, and specifically about recovering the rhodium catalyst. After the cyclic olefin is hydroformylated by the rhodium catalyst, the product solution is added an extraction liquid including a cycloalkyl alcohol and separated into two layers. The upper layer is substantially made up of the rhodium catalyst solution, and the lower layer is substantially made up of the cycloalkyl aldehyde and the extraction solution including cycloalkyl alcohol.