Disclosed is a magnesium compound represented by the following formula (I). Mg(OC2H5)2-n(OR<1>)n (I) [In the formula, R<1> represents CmH2m+1 (wherein m is an integer of 3-10), and n satisfies 0 < n < 0.35.] Also disclosed are a solid catalyst component for olefin polymerization and catalyst for olefin polymerization using such a magnesium compound. Further disclosed are a propylene random copolymer produced by using such a catalyst for olefin polymerization and a method for producing an olefin homopolymer such as a propylene block copolymer.