A method of producing fine particles with a particle size of submicron or finer which comprises the steps of:
forming closely fine projections on a substrate surface, preferably by sputter-etching using an ionized gas; and then sputtering metallic or non-metallic materials onto the thus treated substrate in an inert gas or a mixed gas of an inert gas and a reactive gas, such as oxygen, the gas pressure of the inert gas or the mixed gas being in the range of from 1×10 -4 torr to 1×10 -1 torr, and thereby depositing the purposed fine particles in crystalline or amorphous form. The invention method can successfully provide fine particles with desired properties, for example, in size, shape and structure, by adjusting producing conditions or selection of substrate materials and the thus obtained fine particles are very useful in various applications with or without the substrate.