PURPOSE: To produce an acryl elastomer having hydroxyl groups as crosslinking groups introduced into the terminals of the polymer in order to improve the properties and nonstickiness of a crosslinked product.

CONSTITUTION: A process for producing an acryl elastomer by copolymerizing an alkyl acrylate and/or an alkoxyalkyl acrylate and a hydroxy-lower-alkyl (meth) acrylate in the presence of a polymerization initiator, which process comprises adding a hydroxylated polymerization initiator to the reaction mixture when the conversion reaches 80 % or above, and reacting it.