A process for producing triterpene alcohol, comprising sequentially conducting the following steps (A) to (C): (A) subjecting γ-oryzanol to alkaline hydrolysis; (B) mixing the alkaline hydrolysate with a low polarity organic solvent, and extracting triterpene alcohol to obtain a triterpene alcohol-containing low polarity organic solvent; and (C) adding water to the triterpene alcohol-containing low polarity organic solvent thus obtained, removing the low polarity organic solvent, and then melting triterpene alcohol in hot water, followed by cooling.