PURPOSE: To obtain the subject compound in high selectivity and high rate of reaction while suppressing side reactions at high temperature by reacting a phenolic compound with an aromatic carboxylic acid in the presence of an esterification catalyst and a platinum-group metal or its compound.

CONSTITUTION: An aromatic carboxylic acid aryl ester can be produced by reacting a phenolic compound with an aromatic carboxylic acid at 150-350°C in the presence of (A) an esterification catalyst, preferably a tin compound, especially a compound of formula (R1 to R4 are alkyl or aryl; X1 and X2 are OH, alkoxy or aryloxy) and (B) a platinum-group metal (preferably Pt, Pd or Ru) or its compound, preferably the metal, etc., treated with hydrogen. Preferably, the amount of the catalyst is 1×10-4 to 1×10-2 and that of the platinum- group metal is 1×10-5 to 1×10mol per 1mol of the aromatic carboxylic acid.