A manufacturing method for polycarbonate comprising �I! a process for manufacturing diaryl carbonate from an aromatic hydroxy compound and an aromatic hydroxy compound, �II! a process for manufacturing polycarbonate by solution polymerization of the diaryl carbonate obtained in �II! and an aromatic dihydroxy compound in the presence of a catalyst comprising a nitrogen-containing basic compound, and �III! a process for separating and removing the nitrogen-containing compound from the aromatic hydroxy by-products in �II! and returning the resultant aromatic hydroxy compounds to process �I! effectively reuses aromatic hydroxy by-products (e.g., phenols) of polycarbonate manufacturing to manufacture diaryl carbonate, while suppressing the production of alkyl aromatic ethers and then uses this diaryl carbonate to manufacture polycarbonate with good productivity.