PURPOSE: To obtain a polyol containing little free catalysts, by adding an epoxide to an initiator, e.g. a polyhydric alcohol, in the presence of an alkali metallic compound type catalyst, adding a specific polymerizable compound to the resultant crude polyol, neutralizing the catalytic component, and polymerizing the resultant neutralized substance.

CONSTITUTION: An epoxide (a compound, consisting of a three-membered ring, and containing oxygen atoms, e.g. an alkylene oxide) is added to an initiator, preferably a compound containing two or more hydroxyl groups such as polyhydric alcohol, in the presence of an alkali metallic compound type catalyst to give a crude polyol containing the catalytic component. A compound containing an acid group, e.g. sulfonic acid group, and a polymerizable α,β-unsaturated group, e.g. styrenesulfonic acid, is added to the crube polyol to neutralize the catalytic component, and the resultant neutralized substance is polymerized or copolymerized with another polymerizable compound in the polyol to give the aimed polyol containing the stably dispersed or dissolved polymeric component.