In the method of the present invention, a dimethylolcarboxylic acid is produced by reacting a trimethylolalkane and formaldehyde to prepare a cyclic formal having a formal protecting group, followed by the oxidation of the cyclic formal by using nitric acid as an oxidizing agent to prepare a cyclic carboxylic acid which is then subjected to cleavage to remove the formal protecting group. The formal protecting group protects two of the methylol groups against the oxidation to enable the production of the dimethylolcarboxylic acid with a high selectivity.