The present invention aims to provide a production method of pancreatic hormone-producing cells in a form more mimicking the pancreatogenesis. A method of producing pancreatic hormone-producing cells, comprising subjecting stem cells to the following steps (1) - (6) : (1) a step of cultivating stem cells in a medium containing a Rho kinase inhibitor (2) a step of cultivating the cells obtained in the aforementioned step (1) in a medium containing a GSK3 inhibitor (3) a step of cultivating the cells obtained in the aforementioned step (2) in a medium containing GSK3 inhibitor and an activator of activin receptor-like kinase-4,7 (4) a step of forming a cell mass from the cells obtained in the aforementioned (3), and cultivating the cell mass in a suspension state in a medium (5) a step of cultivating the cells obtained in the aforementioned step (4) in a medium containing a retinoic acid receptor agonist, an inhibitor of AMP-activated protein kinase and/or activin receptor-like kinase-2,3,6, an inhibitor of activin receptor-like kinase-4,5,7 and a cell growth factor (6) a step of cultivating the cells obtained in the aforementioned step (5).
