A hollow rack shaft is manufactured through a first step, a second step and a third step. At the first step, the plate-like workpiece of substantial rectangular shape is press formed into a gutter-like shape. The first die set used at this step is provided with slant die surfaces for canceling elastic recovering generated at the workpiece when the workpiece is removed from the first die set. At the second step, a row of rack teeth is press-formed on the flat bottom portion of the workpiece formed in the first step. The die set used at the second step is provided with a recess for releasing surplus workpiece material within the die clearance at a stroke end of the pressworking. At the third step, each of a pair of legs of the workpiece is bent in a semi-circular shape so as to be butted to each other. At this time, a mandrel is inserted between the legs of the workpiece.