We discuss the phenomenological implications of the neutron (n) oscillation into the mirror neutron (n'), a hypothetical particle exactly degenerate in mass with the neutron but sterile to normal matter. We show that the present experimental data allow a maximal n-n' oscillation in vacuum with a characteristic time tau much shorter than the neutron lifetime, in fact as small as 1 sec. This phenomenon may manifest in neutron disappearance and regeneration experiments perfectly accessible to present experimental capabilities and may also have interesting astrophysical consequences, in particular, for the propagation of ultra high energy cosmic rays.