Flammable chemicals are frequently encountered in industrial processes. Under the safe operation basis and for fire/explosion danger prevention, it is imperative to recognize the flammability characteristics of these processes, especially under the working scenarios for elevated pressure and temperature. This study was conducted to investigate fire and explosion properties, including the explosion limits (LEL and UEL), maximum explosion overpressure (Pmax), maximum rate of explosion pressure rise (dP/dt)max, gas or vapor deflagration index (Kg) and explosion class (St) of various acetone/water solutions (100, 75, 50 and 25 vol.%) at higher initial pressure/temperature up to 2 atm and 200°C via a 20-L-Apparatus. We further discussed the safety-related parameters and fire/explosion damage degree variations in the above aqueous acetone within 1 atm and 150°C. The results offered a successful solution for evaluating the flammability hazard effect in such a relevant crucial process with elevated pressure and temperature.