A method for producing alcohols which comprises reducing esters or lactones with hydrogen gas in the presence of a catalyst comprising (i) a ruthenium compound, (ii) a monodentate monophosphine or a bidentate bisphosphine, and (iii) an amine. Examples of the catalyst include a ruthenium (Ru) complex represented by the formula:RuX
1
X
2
(L
P
)
m
(L
N
)
n
[X
1
and X
2
each represent an anionic ligand, L
P
represents a phosphine ligand, m is 1 when L
P
is bidentate, while m is 2 when L
P
is monodentate, L
N
represents an amine ligand, and n is 1 when L
N
is bidentate, while n is 2 when L
N
is monodentate.] and a catalyst comprising an amine and a ruthenium (Ru) complex of the formula: RuX
1
X
2
(L
P
1
)
r
[L
P
1
represents a monophosphine ligand and r is 3 or 4.].