The present invention relates to a biodegradable resin composition containing a resin component comprising polylactic acid and polybutylene terephthalate, and a powdered vegetable fiber component comprising corn starch, and relates to a method for producing the same. The present biodegradable resin composition contains the resin component (A) comprising 20 to 50 parts by weight of polylactic acid and 10 to 40 parts by weight of polybutylene terephthalate, and the powdered vegetable fiber component (B) comprising 10 to 70 parts by weight of corn starch, the total of the resin component (A) and the powdered vegetable fiber component (B) amounting to 100 parts by weight. The present biodegradable resin composition can be suitably used for producing a molded article.