To industrially and advantageously produce the subject compound useful as a precursor of an ultraviolet light absorber in a plastic composition by recovering a by-product of a condensation product of a phenol with a ketone from a mother liquor and then using the resultant by product as a feed raw material for the process.

Bisphenol A is separated from a condensation reaction of phenol with a ketone (usually by crystallization and filtration) and the mother liquor is then distilled/evaporated to provide a tarlike residue of a high-boiling by- product of the condensation reaction. The resultant tarlike residue is heated preferably together with an arylamine salt which is an acid salt of an arylamine such as aniline, 2-bromoaniline or 2,5-dibromoaniline at about 100-200°C under atmospheric pressure, preferably in an inert gas atmosphere such as a nitrogen gas atmosphere and reacted with the residual bisphenol A in the tar feed raw material. The produced aminophenylhydroxyphenylalkane is separated to thereby produce the objective compound.