Flame retardancy is imparted to a polyalkylene arylate resin by using a flame retardant comprising at least one phosphazene compound and a polyphenylene oxide resin and optionally containing a styrene resin and/or a nitrogenous compound. The phosphazene compound comprises a crosslinked phenoxyphosphazene compound. The polyalkylene arylate resin composition obtained is highly flame−retardant.