The present invention is a method for producing obeticolic acid and its derivatives by hydrogenation of a double bond of a compound of formula (a) or a salt or solvate thereof and reductive ring opening of epoxide. , A step of obtaining a compound of formula (IIIa) and / or a compound of (IIIb), or a salt or solvate thereof, and a compound of formula (IIIa) and / or a compound of formula (IIIb) or a salt thereof. Alternatively, the present invention relates to a method comprising the step of converting a solvate into a compound of formula (I) or a salt thereof or a solvate. [Chemical 1] [Chemical 2] [Chemical 3] [Chemical 4] [Selection diagram] None
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