Process for the synthesis of methanol comprising: reforming a hydrocarbon feedstock into a synthesis gas containing carbon oxides and hydrogen in a molar ratio (H2—CO2)/(CO+CO2) lower than 1.7; elevating said molar ratio to a value of at least 1.9; compressing said synthesis gas and converting the same into crude methanol; separating said crude methanol into a liquid stream of methanol and a gaseous stream containing unreacted synthesis gas; subjecting at least 50% (vol) of said gaseous stream to hydrogen recovery and mixing the recovered hydrogen with said synthesis gas in order to elevate its molar ratio to a value of at least 1.9.