To selectively produce the subject compound useful as a molecular recognition clathrate compound or the like in high yield by carrying out a condensation reaction through dehydration of phenols with aldehydes in a specific reaction solvent in the presence of an alkali catalyst.

(A) Phenols such as p-tert-butylphenol and (B) aldehydes such as paraformaldehyde are subjected to a condensation reaction through dehydration in (C) a reaction solvent of the formula R4O(R3O)tR5 [R3 is a 2-4C alkylene; R4 and R5 are each a 1-4C alkyl; (t) is ≥1], preferably a glycol diether-based high boiling point solvent having ≥180°C boiling point (e.g. triethylene glycol dimethyl ether) in the presence of (D) an alkali catalyst such as potassium hydroxide, preferably for 3-10 hr while heating and refluxing the reaction mixture to provide the objective compound of the formula [R1 and R2 are each H, an alkyl or the like; (m) is 0-4], [e.g. n-tert-butylcalix(4)arene].