An electrophotographic toner including a latex, a coloring agent, and a release agent, wherein a difference between an average circularity of toner having a particle size of D16p or less (S16) and an average circularity of toner having a particle size of D50p or less (S50) is about 0.01 or less, wherein the circularity is measured using a flow particle image analyzer (FPIA), and the ratio of an area of wax to a total cross-sectional area of the toner having a particle size of D16p or less is about 8/100 or greater, and wherein the area is measured using a transmission electron microscope (TEM).