We present the results of an experimental and computational study of the physics and chemistry of cavitation-ignition bubble combustion (CIBC), a process that occurs when combustible gaseous mixtures are ignited by the high temperatures found inside a rapidly collapsing bubble. The CIBC process was modeled using a time-dependent compressible fluid-dynamics code that includes finite-rate chemistry. The model predicts that gas-phase reactions within the bubble produce CO and other gaseous by-products of combustion. In addition, heat and mechanical energy release through a bubble volume-expansion phase are also predicted by the model. We experimentally demonstrate the CIBC process using an ultrasonically excited cavitation flow reactor with various hydrocarbon-air mixtures in liquid water. Low concentrations (