The present invention is directed to a method of manufacturing security elements for electronic article surveillance, the security elements being made of at least two layers, and to a security element manufactured according to the method The method comprises the steps of applying a first layer of a cellulose material in a still moist state to a second layer of a cellulose material, with soft magnetic elements which emit a characteristic signal in the interrogating field of an article surveillance system being added to one of the two layers; and subsequently die stamping or cutting out the desired shape of the security elements from the two layers in the dry state. The method provides a low cost manufacturing means for reliably operating security elements.