The material of inner ring, outer ring and rolling element is formed by a steel material having a chromium (Cr) content of 5% by weight or more. The material is then subjected to cutting. Thereafter, the material thus cut is subjected to heat treatment so that the surface hardness HRC of the worked material is 58 or more. Subsequently, the worked material is subjected to grinding. A working denatured layer present on the surface of the worked material is then removed. Subsequently, an oxide film comprising chromium atom and iron atom at a ratio (Cr/Fe) of 0.5 or more is formed on the surface of the worked material. Accordingly, it is possible to provide a rolling bearing excellent in corrosion resistance and fretting resistance.