A process for the preparation of strontium ranelate or a hydrate thereof is provided comprising (a) reacting a tetraester compound of Formula II: wherein R, R1, R2, and R3 are independently a linear or branched C1-C6 alkyl group or a substituted or unsubstituted C3-C12 cyclic group, in the presence of a lithium base and in a solvent with an inorganic acid salt of strontium.