Abstract: The present invention relates to an arylphenoxy catalyst system producing an ethylene homopolymer or copolymers of ethylene and ?-olefins, and a method of producing an ethylene homopolymer or copolymers of ethylene and ?-olefins having a high molecular weight under a high temperature solution polymerization condition using the same. The catalyst system includes a group IV arylphenoxy-based transition metal catalyst and an aluminoxane cocatalyst or a boron compound cocatalyst. In the transition metal catalyst, a cyclopentadiene derivative and arylphenoxide as fixed ligands are located around the group IV transition metal, arylphenoxide is substituted with at least one aryl derivative and is located at the ortho position thereof, and the ligands are not crosslinked to each other. The catalyst includes an environmentally-friendly raw material, synthesis of the catalyst is economical, and thermal stability of the catalyst is excellent.