An improved air/oil separator assembly for removal of oil from a gaseous stream is disclosed. The air/oil separator includes a head flange and an end plate positioned in a spaced-parallel relationship. A first and a second elongated support member and an outer jacket are concentrically arranged and secured along opposing ends to the head flange and end plate. A first separator element is secured in a position proximate to and outboard of the first support member and a second separator element is secured in a position proximate to and outboard of the second support member. A pre-separator element is secured in a position proximate to and outboard of the second separator element but inboard of the outer jacket. The pre-separator and separator elements are operative to remove oil from the gaseous stream. The pre-separator improves oil removal performance by removing a significant amount of oil before it reaches the separator elements.