An object of the present invention is to provide a heat shrink tube excellent in peelability and transparency, and a method for producing the heat shrink tube. The present invention provides a peelable heat shrink tube comprising a composition containing a melt-processable fluororesin and PTFE, the PTFE lacking a heat history of its melting point or higher after polymerization and having a specific gravity, as measured according to ASTM D4894, of 2.20 or less. The content of the PTFE is 0.05 to 3.0 wt % based on the total weight of the melt-processable fluororesin and the PTFE. The present invention also provides a method for producing the tube which comprises melt-extruding the composition at a temperature lower than the melting point of the PTFE.