This method for producing a vanadium compound has an alkaline leaching step for immersing incineration ash in an alkaline solution to cause vanadium to leach from the incineration ash into the alkaline solution and obtain a leachate slurry, a solid-liquid separation step for separating the leachate slurry obtained in the alkaline leaching step into a solid and liquid followed by removing insoluble matter to obtain a leachate, a pH adjustment step for adding acid to the leachate following solid-liquid separation to make the leachate acidic, an aging step for aging the leachate following pH adjustment until a precipitate forms in the leachate, and a separation step for separating the precipitate from the leachate following the aging step.