An aromatic polyester of good processability and heat resistance is prepared by charging starting materials in a reaction vessel, carrying out polycondensation reaction in the vessel until the flow temperature of the produced aromatic polyester falls in the temperature range of from 240.degree. C. to a temperature of 20.degree. C. below the reaction temperature and discharging the reaction product from the vessel in the molten state.The aromatic polyester obtained by the present invention can be used molded into various forms such as fiber, film, etc. In addition, compositions comprising this aromatic polyester and glass fibers, mica, talc, silica, potassium titanate, wollastonite, calcium carbonate, quartz, iron oxide, graphite, carbon fibers, etc. can be used in machine parts, electric and electronic parts and automobile parts because of their excellent mechanical properties, electric properties, chemical resistance and oil resistance.