We study the time evolution of the entangled kaon system by considering the Liouville -von Neumann equation with an additional term which allows for decoherence. We choose as generators of decoherence the projectors to the 2-particle eigenstates of the Hamiltonian. Then we compare this model with the data of the CPLEAR experiment and find in this way an upper bound on the strength λ of the decoherence. We also relate λ to an effective decoherence parameter ζ considered previously in literature. Finally we discuss our model in the light of different measures of entanglement, i.e. the von Neumann entropy S, the entanglement of formation E and the concurrence C, and we relate the decoherence parameter ζ to the loss of entanglement: 1 − E.