To provide a titanium catalyst used for a manufacturing method of a polyester that is suitable for the transesterification method and to provide a polyester having a slightly yellowish tint, that is, having a low Col-b value by using a titanium compound as a catalyst by a manufacturing method of a polyester using the same.

The catalyst for manufacturing the polyester comprises a reaction product of a phosphorous compound represented by general formula (I) [wherein R is a 1-20C alkyl group, a 6-20C aryl group, a (6-20C)-alkyl group-substituted aryl group or a 6-20C aralkyl group] with a titanium compound. The manufacturing method of the polyester comprises using the reaction product as the catalyst for the transesterification reaction.