Octafluorocyclobutane (C₄F₈)-based fluorocarbon plasmas have become a cornerstone of nanometre-scale etching and deposition in advanced semiconductor manufacturing, owing to their tunable fluorine-to-carbon (F/C) ratio, high density of reactive radicals, and superior material selectivity. In high-aspect-ratio pattern transfer, optical emission spectroscopy (OES) enables in-situ monitoring by correlating the density of morphology-determining radicals with their characteristic spectral signatures, thereby providing a viable pathway for the simultaneously optimizing pattern fidelity and process yield. A predictive plasma model that integrates kinetic simulation with spectroscopic analysis is therefore indispensable. In this study, a C₄F₈/O₂/Ar plasma model tailored for on-line emission-spectroscopy analysis is established. First, the comprehensive reaction mechanism is refined through a systematic investigation of C₄F₈ dissociation pathways and the oxidation kinetics of fluorocarbon radicals. Subsequently, the radiative-collisional processes for the excited states of F, CF, CF₂, CO, Ar and O are incorporated, establishing an explicit linkage between spectral features and radical densities. Under representative inductively coupled plasma (ICP) discharge conditions, the spatiotemporal evolution of the aforementioned active species is analyzed and validated against experimental data. Kinetic back-tracking is employed to elucidate the formation and loss mechanisms of fluorocarbon radicals and ions, and potential sources of modelling uncertainty are discussed. This model has promising potential for application in real-time OES monitoring during actual etching processes.