A toner suitable for use in electrophotography, etc., is composed of toner particles each containing a binder resin, a colorant and a wax component. The toner has a number-average particle size of 2-6 &mgr;m and a standard deviation in particle size of below 2.6 &mgr;m based on a number-basis distribution of circle-equivalent diameters, an average circularity of 0.970-0.995 and a standard deviation in circularity of below 0.030 based on a circularity frequency distribution, and a residual monomer content of at most 500 ppm. The toner particles have such a microtexture as to provide a particle cross section as observed through a transmission electron microscope (TEM) exhibiting a matrix of the binder resin and a particle of the wax dispersed in a discrete form in the matrix of the binder resin.