It is an object of the present invention to provide polylactic acid containing a stereocomplex crystal and having excellent moldability, a high molecular weight, high crystallinity and a high melting point and a process for manufacturing the same. It is another object of the present invention to provide a composition comprising the polylactic acid and a molded product of the polylactic acid. The present invention is characterized from polylactic acid having a weight average molecular weight of 80,000 to 500,000 and a melting peak at 195.degree. C. or higher which accounts for 80% or more of the total of melting peaks in the temperature elevation step when measured by a differential scanning calorimeter (DSC) and a process for manufacturing the same.