Title: Nonlinear oscillation and Multiscale dynamics in a closed chemical reaction Abstract: In this work, we propose a reversible Lotka-Volterra system to model a closed isothermal chemical reaction and study its oscillating behavior and long term dynamics. This is a three dimensional system consisting of a classical two dimensional conservative Lotka-Volterra model and dissipative and singular perturbation. In the phase space, the system exhibits damped oscillation followed by a transition into non-oscillating behavior and eventually approaches the equilibrium. The detailed analysis is provided.