Provided are a method for producing a liquid composition which is capable of eliminating clouding of a liquid with cerium (IV) hydroxide particles in a relatively short time, and methods for producing a polymer electrolyte membrane, a catalyst layer and a membrane/electrode assembly, each having excellent durability, in a relatively short time. A method for producing a liquid composition containing a fluoropolymer having sulfonic acid groups, trivalent cerium ions and water, which comprises (1) irradiating a solution containing at least one cerium compound selected from the group consisting of cerium carbonate, cerium hydroxide and cerium oxide, the fluoropolymer and the water, with light at least partially in a wavelength region from 300 to 400 nm so that the ultraviolet irradiance on the surface of the solution is at least 0.1 mW/cm2 or (2) adding a reducing agent to a solution containing at least one cerium compound selected from the group consisting of cerium carbonate, cerium hydroxide and cerium oxide, the fluoropolymer and the water.