[Object] To provide: an In—Ce—O-based sputtering target capable of suppressing nodules and abnormal discharge over a long period, even though the Ce content based on an atomic ratio of Ce/(In+Ce) is 0.16 to 0.40, at which a high-refractive-index film can be obtained; and a method for producing the In—Ce—O-based sputtering target. [Solving Means] The sputtering target is an In—Ce—O-based sputtering target which is made of an In—Ce—O-based oxide sintered body containing indium oxide as a main component and cerium, and which is used in producing a transparent conductive film having a refractive index of 2.1 or more. The target is characterized in that the Ce content based on the atomic ratio of Ce/(In+Ce) is 0.16 to 0.40, and that cerium oxide particles having a particle diameter of 5 μm or less are dispersed in the In—Ce—O-based oxide sintered body.