A discrete-bubble model that predicts the rate of oxygen transfer in diffused-bubble systems is evaluated. Key inputs are the applied gas flow rate and the initial bubble size distribution. The model accounts for changes in the volume of individual bubbles due to transfer of oxygen and nitrogen (and hence changing partial pressure), variation in hydrostatic pressure, and changes in temperature. The bubble-rise velocity and mass-transfer coefficient, both known functions of the bubble diameter, are continually adjusted. The model is applied to predict the results of diffused-bubble oxygen transfer tests conducted in a 14-m deep tank at three air flow rates. All of the test data are predicted to within 15%. The range of bubble diameters (0.2–2 mm) spans the region of greatest variation in rise velocity and mass-transfer coefficient. For simplicity, the Sauter-mean diameter is used rather than the full bubble size distribution without loss of accuracy. The model should prove useful in the design and optimization of hypolimnetic oxygenation systems, as well as other diffused-bubble applications.