A sputtering target for producing a metallic glass membrane characterized in comprising a structure obtained by sintering atomized powder having a composition of a ternary compound system or greater with at least one or more metal elements selected from Pd, Zr, Fe, Co, Cu and Ni as its main component (component of greatest atomic %), and being an average grain size of 50 μm or less. The prepared metallic glass membrane can be used as a substitute for conventional high-cost bulk metallic glass obtained by quenching of molten metal. This sputtering target for producing the metallic glass membrane is also free from problems such as defects in the metallic glass membrane and unevenness of composition, has a uniform structure, can be produced efficiently and at low cost, and does not generate many nodules or particles. Further provided is a method for manufacturing such a sputtering target for forming the metallic glass membrane.