A method for manufacturing a cubic boron nitride cutting tool including a base metal and sintered cubic boron nitride compact at a corner portion of the base metal, capable of improving the accuracy of the center height and reducing the angle of inclination or width of a negative rake face; and the cubic boron nitride cutting tool. The method includes grinding the compact by pressing it against an end face of a grindstone of a grinder to form flank and rake faces on the compact while the base metal of the cutting tool is held by a chuck of the grinder, so that the compact is substantially ground. The rake face is formed to be recessed from a top face of the base metal or only a portion of the compact that protrudes from a base-metal rake face is ground while the tool is continuously held by the chuck.