A method for producing an epoxy compound characterized by comprising contacting an olefin, oxygen and hydrogen with a noble metal and a crystalline titanosilicate having an MFI structure in a liquid phase in the presence of a quinoid compound selected from the group consisting of a phenanthraquinone compound and a compound represented by formula (1) wherein R1, R2, R3 and R4 represent a hydrogen atom, or R1 and R2 or R3 and R4 adjacent to each other are each independently bound at the ends and represent, together with a carbon atom of a quinone to which they are respectively attached, a benzene ring which may be substituted with an alkyl group or a hydroxyl group, or a naphthalene ring which may be substituted with an alkyl group or a hydroxyl group; and X and Y, which is the same or different, represent an oxygen atom or an NH group, or a dihydro compound thereof.