A method of manufacturing 4,4"-dihydroxy-m-terphenyl expressed by General Formula below, characterized by using a 2-cyclohexene-1-one expressed by General Formula below or 3-hydroxycyclohexane-1-one expressed by General Formula below, and phenol expressed by General Formula below as materials and implementing Step, Step and Step below, in this order, or Step and Step below, in this order: (in the formulas, each R 2 independently represents an alkyl group, alkoxy group, aromatic hydrocarbon group, or halogen atom, while m indicates 0 or an integer of 1 to 4, where R 2 substitution does not occur in a third position when m is 1 or greater, and when m is 2 or greater, R 2 's may be identical or different, and R 2 substitution does not occur in two positions of a same carbon atom; in addition, R 2 and m in General Formula may be identical to or different from R 2 and m in General Formula, respectively); (in the formula, each R 1 independently represents an alkyl group, alkoxy group, aromatic hydrocarbon group, halogen atom, or hydroxyl group, while n indicates 0 or an integer of 1 to 4, where R 1 's may be identical or different when n is 2 or greater); Step: Step to obtain a 1,1,3-trisphenol expressed by General Formula below by causing the 2-cyclohexene-1-one or 3-hydroxycyclohexane-1-one and phenol to react with each other in a presence of a catalyst; Step: Step to obtain a bis(4-hydroxyphenyl)cyclohexene expressed by General Formula below by causing the 1,1,3-trisphenol to undergo breakdown reaction; Step: Step to obtain a 4,4"-dihydroxy-m-terphenyl by dehydrogenating the bis(4-hydroxyphenyl)cyclohexene; Step: Step to obtain a bis(4-hydroxyphenyl)cyclohexene expressed by General Formula below by causing the 2-cyclohexene-1-one or 3-hydroxycyclohexane-1-one and phenol to react with each other in a presence of a catalyst; (in the formula, each R 1 and n is independently the same as corresponding items in General Formula, respectively, while R 2 and m are the same as corresponding items in General Formula or General Formula, respectively); (in the formula, each R 1 and n is independently the same as corresponding items in General Formula, respectively, while R 2 and m are the same as corresponding items in General Formula or General Formula, respectively); (in the formula, each R 1 and n is independently the same as corresponding items in General Formula, respectively, while R 2 and m are the same as corresponding items in General Formula or General Formula, respectively, and a binding position of a 4-hydroxyphenyl group having no fixed binding position is a third position or fifth position of a cyclohexene ring). Step: Step to obtain a 1,1,3-trisphenol expressed by General Formula below by causing the 2-cyclohexene-1-one or 3-hydroxycyclohexane-1-one and phenol to react with each other in a presence of a catalyst; Step: Step to obtain a bis(4-hydroxyphenyl)cyclohexene expressed by General Formula below by causing the 1,1,3-trisphenol to undergo breakdown reaction; Step: Step to obtain a 4,4"-dihydroxy-m-terphenyl by dehydrogenating the bis(4-hydroxyphenyl)cyclohexene; Step: Step to obtain a bis(4-hydroxyphenyl)cyclohexene expressed by General Formula below by causing the 2-cyclohexene-1-one or