A modified polybutadiene produced by modifying a raw polybutadiene in which (1) content of 1,2-structure in the polybutadiene is 4 to 30%, (2) content of cis-1,4-structure in the polybutadiene is 65 to 95%, (3) content of trans-1,4-structure in the polybutadiene is 5% or less, and having a ratio (Tcp/ML1+4) of a 5% toluene solution viscosity (Tcp) measured at 25° C. and a Mooney viscosity (ML1+4) at 100° C., of 2.0 or higher, in the presence of a transition metal catalyst for modification, characterized in that a molecular weight distribution (Mw/Mn) is 2.80 or less, a gel content is 0.06 wt % or less, and an APHA color is 20 or less.