A process for producing an oxide superconductor, which comprises mixing at least an oxide of one element selected from the group consisting of Y, Sm, Eu, Gd, Dy, Ho, Er and Yb, hereinafter referred to as "Ln", with a powder of BaCO.sub.3 and CuO to prepare a mixed powder, heating the mixed powder, and melting the mixed powder to form a molten material, rapidly cooling and solidifying the molten material to form a solidified material, pulverizing the solidified material to form a fine powder, mixing 0.2 to 2.0% by weight of a platinum powder with the pulverized fine powder, forming a body with the resultant mixture, heating the formed body to bring it to a partially-molten state and then cooling the partially-molten formed body to finely disperse Ln.sub.2 BaCuO.sub.5 as a 211 phase and a platinum compound of the formula PtBa.sub.4 Cu.sub.2 O.sub.y in a crystal of an oxide superconductor comprising LnBa.sub.2 Cu.sub.3 O.sub.y, where y is a number sufficient to permit oxide superconductivity.