A slicing machine is disclosed in which a crystal ingot is sliced by a rotary blade (14) while the inner peripheral cutting edge (16) of the blade (14) is kept in a highly rigid state. In particular, in a slicing machine which is adapted to slice out a crystal ingot (20) into thin pieces by use of an inner peripheral cutting edge (16) of a doughnut-shaped rotary blade (14), an axial force is previously applied to the rotary blade (14) prior to starting of the slicing to thereby displace the rotary blade (14) in the axial direction thereof and thus, while the rigidity of the inner peripheral cutting edge (16) is kept in a high state, the crystal ingot (20) is sliced so as to realize a highly accurate slicing operation.