<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0203</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2010-09-15</periodOfReport>

    <noSecuritiesOwned>1</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001326396</issuerCik>
        <issuerName>Keyuan Petrochemicals, Inc.</issuerName>
        <issuerTradingSymbol>KEYP</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001506421</rptOwnerCik>
            <rptOwnerName>Ma Jingtao</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>QINGSHI INDUSTRIAL PARK, NINGBO ECONOMIC</rptOwnerStreet1>
            <rptOwnerStreet2>&amp; TECHNOLOGICAL DEVELOPMENT ZONE</rptOwnerStreet2>
            <rptOwnerCity>NINGBO,ZHEJIANG PROVINCE</rptOwnerCity>
            <rptOwnerState>F4</rptOwnerState>
            <rptOwnerZipCode>315803</rptOwnerZipCode>
            <rptOwnerStateDescription>CHINA</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Executive Vice President</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <ownerSignature>
        <signatureName>/s/ Jingtao Ma</signatureName>
        <signatureDate>2010-11-24</signatureDate>
    </ownerSignature>
</ownershipDocument>
