PURPOSE: To provide a process for producing a telechele which can prepare a telechele useful as a constituent element of a reactive polymer in a high polymer concn. at a high yield by reacting a living polymer with a functionalizing agent under stirring with a specified stirrer.

CONSTITUTION: A living polymer obtd. by anionic polymn. of styrene, butadiene, isoprene or the like is reacted with a functionalizing agent, such as epoxide, under stirring with a stirrer having knife-like blades as stirring members, the latter being inclined relatively to their plane of movement and passing over essentially the complete space occupied by the reaction mixture. Thus, the objective telechele is obtd.