The present invention relates to a process for producing a toner for development of electrostatic images, including step (1): subjecting a polyhydric alcohol component and a polycarboxylic acid component to polycondensation reaction in the presence of a hydroxy group- or carboxy group-containing hydrocarbon wax (W1) to obtain a non-crystalline resin (A) containing a constitutional component derived from the hydrocarbon wax (W1) and also containing a polyester moiety; step (2): dispersing the non-crystalline resin (A) obtained in the step (1) in an aqueous medium to obtain an aqueous dispersion of resin particles (X); step (3): aggregating the resin particles (X) obtained in the step (2) in an aqueous medium in the presence of a crystalline polyester (B) to obtain aggregated particles; and step (4): coalescing the aggregated particles obtained in the step (3).