To provide practicable rolled copper foil for a copper-clad laminated substrate having excellent resin transparency after the removal of rolled copper foil by etching.

In the rolled copper foil for a copper-clad laminated substrate, surface roughness Ra in a direction orthogonal to the rolling direction is ≤0.1 μm, and also, glossiness in a direction parallel to the rolling direction (in accordance with JIS Z8741) is 300 to 500% at G60 (at the incident angle of 60 degrees), preferably, the width (Sm) in the surface flat part (oil pit crude part) present in parallel in an extension direction in a belt shape is ≥0.07 mm, thickness is 5 to 20 μm, and electric conductivity is ≥80% IACS. The rolled copper foil can be produced by performing cold rolling under the condition where the equivalent of an oil film upon rolling reaches ≤45,000; wherein, the equivalent of the oil film is expressed by {(the viscosity of rolling oil, the kinematic viscosity at 40°C; cSt)×(rolling velocity; m/min)}/{(the yield stress of the material; kg/mm2)×(the biting angle of a roll; rad)}.