A process is provided for producing a complex oxide catalyst which exhibits superior catalytic activity in a vapor phase catalytic oxidation reaction, particularly in production of unsaturated aldehyde and unsaturated carboxylic acid. The process is characterized by the steps of preparing an aqueous slurry by mixing a complex oxide containing molybdenum and cobalt with an acid and water; drying the aqueous slurry; and calcining the resulting dried solid. Preferably, the complex oxide is obtained as follows: a molybdenum- and cobalt-containing complex oxide catalyst which has been used in a vapor phase catalytic oxidation reaction is mixed with an aqueous extracting solution obtained by dissolving at least one of ammonia and an organic base in water, to thereby extract molybdenum and cobalt into the aqueous phase; and the aqueous phase is dried and is then calcined under an atmosphere of an oxidizing gas.