Abstract: The present invention relates to a method of producing an aromatic carbonate by reacting an aromatic hydroxy compound, carbon monoxide and oxygen using as a catalyst a specified catalyst system containing palladium and cerium compounds. Specifically, the present invention relates to a method of producing an aromatic carbonate by reacting an aromatic hydroxy compound, carbon monoxide and oxygen in the presence of a catalyst containing the following compounds:(A) at least one selected from palladium and palladium compounds;(B) at least one of trivalent or tetravalent cerium compounds;(C) at least one selected from quaternary ammonium salts and quaternary phosphonium salts;(D) at least one selected from quinones and reduction products thereof, i.e., aromatic diols; or(A) and (B) components of the above; and(E) at least one inorganic halide selected from alkali metal halides and alkali earth metal halides.