A method and apparatus are provided for producing an amorphous ribbon by ejecting and rapidly solidifying molten alloy on a circumferential surface of a rapidly rotating cooling roll, wherein the cooling roll is polished online during amorphous ribbon production. When the circumferential surface of the cooling roll after peeling off the ribbon is polished using a polishing member, the circumferential surface of the cooling roll is polished continuously or intermittently across its lateral direction while differentiating the polishing mode in accordance with the surface properties.