Abstract: There is provided a process for producing a polycarbonate resin containing less amounts of a terminal OH group and a residual monomer and having excellent heat resistance efficiently with a simple equipment. Said process comprises emulsifying an oligomer-containing reaction mixture obtained by the reaction of an alkaline aqueous solution of an aromatic dihydroxy compound with phosgene in the presence of an organic solvent, after adding a molecular weight modifier thereto, and performing polymerization while the reaction mixture is allowed to stand still in the emulsified state.