A method for producing an allyl compound having a compositional formula different from that of an allyl starting material compound, which comprises reacting the allyl starting material compound with an oxygen nucleophilic agent having a structure different from that of the allyl starting material compound in the presence of a catalyst containing at least one transition metal compound containing a transition metal selected from the group consisting of transition metals belonging to Group 8 to Group 10 of the Periodic Table and a monodentate phosphite compound having a structure of the following formula (1): P(OR.sup.1)(OR.sup.2)(OR.sup.3) (1) wherein R.sup.1, R.sup.2 and R.sup.3 are respectively independently an alkyl group which may have a substituent, carbon chains of R.sup.1, R.sup.2 and R.sup.3 may have at least one carbon-carbon double bond or triple bond, and at least two optional groups of R.sup.1, R.sup.2 and R.sup.3 may bond to each other to form at least one cyclic structure.