A torque sensor includes a substantially tubular giant magnetostrictive member, a shaft passing through the inner bore of the giant magnetostrictive member and capable of transmitting torque to the giant magnetostrictive member, and a detection coil for detecting changes in the magnetic permeability or remnant magnetization of the giant magnetostrictive member. Torque changes of the shaft are detected as changes in the magnetic permeability or remnant magnetization of the giant magnetostrictive member, based on the deformation of the giant magnetostrictive member. The torque sensor enables a reduction in the number of components and costs, as well as detection of torque changes with high sensitivity.