A manufacturing method for a bearing outer ring. A cylindrical material is sequentially subjected to a upsetting process, a simultaneous forward-backward extrusion process, a punching process, a rolling process, and a finishing process, to thereby produce a bearing outer ring comprising back-to-back arrangement double-row outer ring raceways at two locations in the axial direction on the inner peripheral surface. In the upsetting process, the material is axially compressed between the opposite pushing faces of a pair of dies to produce a first intermediate material of the beer glass type. In the simultaneous forward-backward extrusion process, a punch is that of a bottomed cylinder in which a circular protrusion having a height less than half the depth of this die corresponding to the height of the second intermediate material is provided at the center of the base to give a cylindrical shape forming space of the lower part of the second intermediate material between the outer peripheral surface of the circular protrusion and the inner peripheral surface of the die and the one having the outer diameter smaller than the inner diameter the punch for processing the inner face shape of the upper part of the second intermediate material and pressing the central part of the first intermediate material in the axial direction.