PURPOSE: To obtain the titled compound having a low hydrolyzable chlorine content within a short time, by effecting an addition reaction between epichlorohydrin and aminodiphenylmethane and then effecting the dehydrochlorination of the product by adding an alkali metal hydroxide and a specified solvent.

CONSTITUTION: A polyepoxy compound is produced by effecting an addition reaction between epichlorohydrin and diamino-diphenylmethane, its alkyl-substituted product, or its halogen-substituted product, and effecting the dehydrochlorination of the resulting product by adding thereto an alkali metal hydroxide and a solvent selected from the group consisting of N,N-dimethylformamide, N,N-dimethylacetamde, N-methyl-2-pyrrolidone and hexamethylphosphoramide. This polyepoxy compound is low in a hydrolyzable chlorine content even without redehydrochlorination, provides a cured product excellent in heat resistance and is useful as a resin material for carbon fiber-reinforced resins, and a sealant or casting material for electric parts.