A polyester resin for toner comprising an acid component containing at least one selected from the group consisting of aromatic dicarboxylic acids and their lower alkyl esters, and an alcohol component containing at least one selected from the group consisting of bisphenol A derivative diols, wherein the content of aldehyde compounds, their decomposition products and by-products in the polyester resin is no more than 200 ppm. Toner polyester resins and toners are obtained which do not generate irritating odors even upon melting and kneading during the toner production or upon heating during the copying process, which provide clear images with no haziness due to reduced light permeability of the copy material, which have a wide range of color tone reproduction, and which provide excellent image precision on copied print.