A method for producing a phospholipid-containing composition which includes 10% by weight or more of phosphatidylserine based on the whole phospholipid-containing composition, a content of a polyunsaturated fatty acid being from 10 to 40% by weight based on the total amount of constituent fatty acids, the method including the following steps (1) and (2) in this order, and the following steps (3) and (4) in this order inexpensively and stably supplies a phospholipid-containing composition which includes phosphatidylserine to which a large amount of the polyunsaturated fatty acid is bonded at the 2-position thereof. Step (1): performing an esterification reaction of a polyunsaturated fatty acid with lysophospholipid using phospholipase A2 (PLA2) to obtain phospholipid. Step (2): adjusting an activity of PLA2 in the phospholipid to 10 U/g (phospholipid) or less after the step (1). Step (3): performing a base exchange reaction of a mixture including the phospholipid and serine in the presence of phospholipase D (PLD) to form a phospholipid-containing composition which includes phosphatidylserine. Step (4): separating the composition.