This work deals with kinetics and chemical equilibrium studies of esterification reaction of ethanol with acetic acid. The esterification reaction was catalyzed by an acidic ion exchange resin (Amberlyst- 15) using a batch stirred tank reactor. The pseudo-homogenous and Eley-Rideal models were successfully fitted with experimental data. At first, Eley-Rideal model was examined for heterogeneous esterification of acetic acid and ethanol. The pseudo-homogenous model was investigated with a power-law model. The apparent reaction order was determined to be (0.88) for Ethanol and (0.92) for acetic acid with a correlation coefficient (R2) of 0.981 and 0.988, respectively. The reaction order was determined to be 4.1087x10-3 L0.8/(mol0.8.min) with R2 of 0.954. The adsorption constants of acetic acid and ethanol were calculated as 0.023 and 0.044 L/mol, respectively and the lumped reaction constant were determined to be 5*10-4 L2/gcat.mol.min. The results of the reaction kinetic study show that the high acetic acid/ethanol molar ratio was favored. The maximum conversion of 70 % was obtained at 70°C for acetic acid/ethanol molar ratio of 4.