A rocket propellant includes a hydrocarbon blend having a total aromatic compounds content less than 0.5 mass percent, a specific energy of at least 18.4 KBtu/lb, and a mass density of at least 0.8150 grams per cubic centimeter. The propellant, which can be prepared by blending a refined kerosene with an isoparaffin and/or a cycloparaffin, exhibits a high volumetric heat of combustion and excellent thermal stability. This combination of properties is especially useful for fueling reusable launch vehicles employing regenerative cooling of engine components.