PURPOSE: To efficiently obtain the subject compound useful as solvent or chemical raw material, etc., with stably keeping activity of catalyst for a long time without sedimentation of the catalyst component by oxidizing a linear olefin in a solvent comprising alcohols with using a specific catalyst.

CONSTITUTION: A linear olefin is oxidized in a solvent composed of alcohols (preferably methanol or ethanol, etc.) using an oxidizing agent such as air and a catalyst composed of a palladium compound and a polyoxoanionic compound to afford the aimed compound. The reaction is performed at 0-200°C, preferably 20-100°C temperature and under normal pressure to about 20kg/cm2 pressure. Using ratio of the palladium compound and the polyoxoanionic compound as said catalyst is usually 0.5-100mol, preferably 1-20mol polyoxoanion to 1mol palladium compound.