According to a toner and a manufacturing method of the present invention, the toner, which is composed of a binding resin component precipitated in particle shapes with a coloring agent component dispersed in the binding resin component, is produced by dissolving the binding resin component in a supercritical fluid (a SCF), blending the coloring agent component in the SCF, and lowering solubility of the binding resin component for precipitating the binding resin component in the particle shapes. Even when the coloring agent content is increased, by the SCF, the toner can maintain dispersibility of the coloring agent component in the binding resin component precipitated in the particle shapes, meanwhile coloring power is also maintained thereby. Therefore, the toner can promote miniaturization of an image forming apparatus using the toner.