Serration rolling tools and thread rolling tools each having groups of leading teeth, finishing teeth and disengaging teeth are provided, a lead angle of the thread rolling tool being set in accordance with the rolling diameter of the serration section in a work piece. The thread rolling tool and serration rolling tool are arranged parallel and integrally. First a rolling operation for forming serrations is started by the serration rolling tools, a rolling operation for forming threads being started by the thread rolling tools in the course of the rolling operation by the group of the leading teeth of the serration rolling tools. A rolling operation for finishing the threads is completed in the latter half of the rolling operation by the group of the finishing teeth for the serrations. The difference in rolling diameters is absorbed by the slide of the aforesaid thread rolling tools on a shaft member (work piece), thus enabling the simultaneous formation of serrations and threads in a short rolling stroke.