Disclosed is a method for producing 1-(2-hydroxyethyl)-2,5,5,8a-tetramethyldecahydronaphthalene-2-ol represented by formula (2), wherein microbial conversion is carried out using a compound(s) represented by formula (1a) and/or (1b) as a substrate, the resulting culture product, in which microorganisms obtained by the microbial conversion are contained, and a solvent having an SP value within the range of 7.5 to 9.0 [(cal/cm3)1/2] are mixed together, and subsequently the aqueous phase is removed therefrom.