A process for preparing p-cumylphenol which comprises reacting phenol and α-methylstyrene in the presence of an inorganic solid acid catalyst having an acid point of an acid strength Ho of up to -3, for example activated clay, and recovering the aimed p-­cumylphenol from the reaction mixture thus obtained by distilling the same while introducing an inert gas such as nitrogen and/or steam into the distillation system is disclosed. The p-cumylphenol thus obtained has a high purity and an improved color compared with those obtained by conventional methods.