The present invention relates to a polyester having an excellent hydrolysis resistance even when used in a process for producing a toner for electrophotography which includes a step of forming a raw material into particles in an aqueous medium, and a toner for electrophotography which contains the polyester and is excellent in storage stability and fixing property. There are provided a polyester for a toner for electrophotography which is used in a process for producing a toner including a step of forming a raw material component into particles in an aqueous medium or a solution, and produced by polycondensing an alcohol component with a carboxylic acid component containing at least one compound selected from the group consisting of an alkyl succinic acid and an alkenyl succinic acid, as well as a toner for electrophotography which contains the polyester.