The phenoxyphosphazene compound of the present invention is prepared by treating a phenoxyphosphazene compound with (a) at least one adsorbent selected from
activated carbon,
silica gel,
activated alumina, activated clay, synthetic
zeolite and macromolecular adsorbents, (b) at least one
reagent selected from
metal hydrides, hydrazine, hypochlorites,
thiosulfates, dialkyl sulfuric acids, ortho esters, diazoalkanes, lactones, alkanesultones,
epoxy compounds and
hydrogen peroxide or (c) both the adsorbent and
reagent. Incorporation of the phenoxyphosphazene compound prepared by the process of the invention into a
synthetic resin achives the following advantages: the
synthetic resin can be prevented from discoloration; when the
resultant resin composition is stored for a long time, the properties of the
synthetic resin, such as
heat resistance, weatherability, resistance to discoloration and
chemical resistance are not deteriorated; and the resin composition gives a resin composition molded article excellent in properties such as
flame retardancy,
thermal stability, and moldability.