PURPOSE: To industrially produce an α,β-unsaturated alcohol in high activity and in high selectivity by using an inexpensive metal having low toxicity.

CONSTITUTION: In producing an α,β-unsaturated alcohol by reacting an α,β-unsaturated aldehyde with hydrogen in the presence of a catalyst, a catalyst which comprises one or more metals selected from indium, neodymium, magnesium, barium and lanthanum and silver and has the atomic ratio of the metal except silver and silver of 1:1-1:20 is used as the catalyst.