Abstract: A graft polymerization precursor is prepared through polymerization caused by impregnating an ethylene polymer with a vinyl monomer and a radical polymerizable PO, or a mixture of this graft polymerization precursor and an ethylene polymer and vinyl polymer, is kneaded in a molten state at 100.degree. to 300.degree. C. By so doing, a resin composition having a revolutionary high grafting efficiency can be obtained, so that secondary coagulation can be prevented.