Provided is a method for producing chondrocytes from pluripotent stem cells, the method comprising the steps of: (i) inducing pluripotent stem cells to differentiate into mesodermal cells in adherent culture, (ii) culturing the cells obtained by step (i) in adherent culture in a medium containing one or more substances selected from the group consisting of BMP2, TGFβ and GDF5, and (iii) culturing the cells obtained by step (ii) in suspension culture in a medium containing one or more substances selected from the group consisting of BMP2, TGFβ and GDF5. Also provided is a pharmaceutical product comprising the chondrocytes obtained by the method.