Provided is a method for producing an equol using microorganisms under less moisture conditions than before. A method for producing equol, comprising the step of culturing at least one equol raw material selected from the group consisting of a dizein glycoside, dizein, and dihydrodizein with a microorganism capable of utilizing the equol raw material to produce equol, wherein in the culturing step, 100 parts by weight of the equol raw material, Wherein the culture is carried out at less than 400 parts by weight of water, preferably less than 350 parts by weight, more preferably less than 300 parts by weight. None

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