A toner for developing an electrostatic latent image which includes at least particulate magnetic materials and a binder resin has no particulate magnetic materials on the surface of the toner. In the toner, wherein A and b.sub.min satisfy the relationship: b.sub.min /A>0.02, where A represents an average particle diameter of the toner, and b.sub.min represents a minimum distance between a particulate magnetic material located at a position closest to the surface of the toner and the toner surface.