A hollow rack shaft is manufactured through a first step, a second step and a third step. At the first step, the plate-like workpiece of substantial rectangular shape is press-formed into a gutter-like shape. At the second step, a row of rack teeth is press-formed by a preliminary forming step and a main forming step on the flat bottom portion of the workpiece formed in the first step. The die set used at the second step is provided with a recess for releasing surplus workpiece material within the die clearance at a stroke end of the pressworking and each die set is divided into a plurality of segments at the recess. At the third step, each of a pair of legs of the workpiece is bent in a semi-circular shape so as to be butted to each other.