The decarbonylation process of Mo(CO)6 in the NaY supercages was studied by means of a time resolved dispersive XAFS method during temperature programmed decarbonylation. XANES analysis demonstrated that the decarbonylation proceeded through two steps and that a stable intermediate existed between 440-490 K. The curve fitting analysis revealed that the intermediate was a molybdenum monomer subcarbonyl species coordinated by three CO ligands and three oxygen atoms of zeolite framework. Molybdenum dimer subcarbonyl species were not observed. This study demonstrated that DXAFS technique is a powerful method to study the dynamic behaviour of the Mo carbonyl species during decarbonylation process.