The present invention is capable of providing a polyester resin able to be used in a suitable material for a reflective plate for a surface-mounted LED, said resin having excellent heat resistance, excellent moldability during injection molding, excellent low water absorbability and excellent surface reflectivity, and being a polyester resin for a surface-mounted LED reflective plate having: as the constituent components thereof a 4, 4'-biphenyldicarboxylic acid, an acid component comprising other dicarboxylic acids, and a glycol component; a fusion point of at least 280 DEG C; and ideally at least 30 mol% of the total acid component being the 4, 4'-biphenyldicarboxylic acid, and the other dicarboxylic acids being terephthalic acid and/or 2,6-naphthalenedicarboxylic acid.