The measurement of the ¹²⁴Xe(n, 2n)¹²³Xe reaction cross section at 14.8 MeV neutron has been performed by the activation method. Quasi monoenergetic neutron beams were produced at the Cockcroft Walton Accelerator of China Institute of Atomic Energy, by the T(d, n)⁴He reaction. A cell made of polymethyl methacrylate (PMMA) was used as the container of ¹²⁴Xe (99.95% abundance) gas, and the mass of ¹²⁴Xe in cell was determined by weighing method. Two high-purity thin ⁹³Nb foils were attached to the cell and performed as monitors of the neutron flux determination by ⁹³Nb(n, 2n)^92mNb reaction. After the irradiation, the activities of ¹²³Xe and ^92mNb were measured by off-line gamma-ray spectrometric technique using a pre-calibrated HPGe detector. As a result, the cross section has been deduced at 14.8 MeV, and the result was compared with the literature data and evaluations.