PURPOSE: To efficiently conduct the telomerization of conjugated alkadienes in high yield to obtain intermediates or the like useful for a synthetic resin, an epoxy compound, a surface-active agent or the like by bringing conjugated alkadienes into contact with compounds having active hydrogen atoms in the presence of a specified catalyst.

CONSTITUTION: The telomerization of conjugated alkadienes is conducted by bringing a conjugated alkadiene, e.g. 1,3-butadiene into contact with a compound having at least one active hydrogen atom, e.g. water in the presence of a catalyst obtainable from a palladium compound, e.g. palladium acetate and a diphosphine of the formula [R is a bivalent organic bridging group; R1 to R4 are each (substituted) hydrocarbyl, e.g. 1,3-bis(diphenylphosphino)propane.