This invention relates to a catalyst which comprises palladium metal as the main catalyst, tin metal or a mixture of tin and additional metals as the promoter, in combination with an alkali or alkaline earth metal compound, supported on the outer surface of a porous carrier. The catalyst is used in the process for producing allyl acetate through the oxacylation of propylene, acetic acid and oxygen in a vapor phase. The catalyst of the present invention exhibits high catalytic activity, high catalytic selectivity and high catalytic life, which greatly increases the economic utility of the oxacylation process.