To efficiently produce various allyl compounds by using a new catalyst system exhibiting enough high activity on an oxygen nucleophile of which the reactivity is low, when the new allyl compound different from a raw material compound for the allyl compound is produced by reacting the raw material compound with the oxygen nucleophile.

The new allyl compound exhibiting a composition formula different from that of the raw material compound for the allyl compound is produced by reacting the raw material compound for the allyl compound with the oxygen nucleophile in the presence of a catalyst containing one or more transition metal compounds and a multidentate phosphite compound, wherein the transition metal compound is formed out of a metal selected from a group comprising transition metals belonging to the 8th to 10th groups in the periodic table.