High-resolution angle-resolved photoemission spectroscopy (HR-ARPES) has been performed on a CeBi single crystal to study the complicated electronic structure near the Fermi level ((Formula presented)). The experimental result was compared with the band-structure calculation based on the p-f mixing model as well as the de Haas-van Alphen (dHvA) effect measurements. It was found that the overall feature of the valence band shows a remarkably good agreement between the experiment and the calculation, suggesting the essential validity of the p-f mixing model. HR-ARPES measurement near (Formula presented) has established the existence of a small electron pocket centered at the M point in the Brillouin zone, supporting the band calculation and the dHvA measurement. HR-ARPES spectra around the Γ point show some dispersive bands near (Formula presented) indicative of a hole pocket centered at the Γ point, though it was not so clearly resolved as the electron pocket due to close proximity of individual bands. These results are consistent with the semimetallic nature of CeBi. The observed quantitative discrepancy between the experiment and the calculation is discussed. © 1996 The American Physical Society.