The thermal-oxidative degradation of a crosslinked hydroxy-terminated polybutadiene (HTPB)/cycloaliphatic diisocyanate (H12MDI) based polymer, which is commonly used as a polymeric binder in propellants, is investigated at temperatures from 95°C to 125°C with the aim of estimating the lifetime of the material in storage conditions (20°C) using the Arrhenius approach. Furthermore, the effect of antioxidants and to a lesser extent plasticizer on the degradation process was also studied. Diffusion-limited oxidation (DLO) was theoretically modelled and DLO conditions were estimated by gathering oxygen permeability and consumption data from similar studies. It was concluded that DLO-effects might be present at the highest experiment temperature (125°C) depending on the actual properties of the material investigated. The mechanical degradation was monitored by conducting tensile tests in a DMA apparatus and photographs using a microscope was taken to examine potential DLO effects. The degradation process of the stabilized polymer (with antioxidant) did not showcase Arrhenius behaviour, which was confirmed by the failure to construct a satisfactory mastercurve. This was most likely due to loss of antioxidants, resulting in autocatalytic oxidation(acceleration of the oxidation process). However, the induction period of the stabilized polymer showcased Arrhenius behaviour in the temperature region 95-125°C with an ~E_a = 90 kJ/mol. If the activation energy E_a is assumed to remain constant, the lifetime at ambient temperature (20°C) is predicted to be approximately 176 Years for a 2mm thick sample. However, this is probably an overestimation since curvature in the Arrhenius plot has been observed for many rubber materials in the lower temperature region. Assuming the E_a drops from ~90 kJ/mol to~71 kJ/mol, a more conservative lifetime prediction of 58 Years was estimated.