A process for manufacturing ratchet wheels including the steps of: forming a cylindrical forging billet by hot or cold forging, the forging billet having a thru hole of inter-communicating recesses which are pre-formed in a forging die; providing a broach having teeth formed thereon; machining the forging billet into a workpiece having a sidewall with two annular grooves on the sidewall; forming a semi-product having a driving recess which is complementary in shape to the teeth by operating the broach through the workpiece along the thru hole; and forming a finished product having a plurality of teeth on a sidewall thereof by milling the semi-product.