PURPOSE: To readily separate a catalyst after completion of reaction, to obtain a slightly colored tetrakis[3(3,5-dialkyl-4-hydroxyphenyl) propionyloxyalkyl]metliane and to shorten reaction time by using a specific alkali catalyst in transesterification reaction.

CONSTITUTION: An alkyl-β-(3,5-dialkyl-4-hydroxyphenyl)--propionate[preferably methyl-β-(3,5-di-t-butyl-4-hydroxyphenyl) propionate and (B) a methane derivative tetrasubstituted with an alkyl containing hydroxyl group at the end (e.g. pentaerythritol) are subjected to transesterification reaction in the presence of (C) an alkali catalyst (preferably lithium hydroxide) composed of an alkaline (earth) metal hydroxide or an alkaline (earth) metal carbonate preferably under reduced pressure at 100-300°C to give the objective compound. The reaction is preferably carried out in the molar ratio of the compound A/B of (4.1-4.0/1 and by dividedly adding the component C at two or more stages.