A polyester binder resin for a toner that excels in low-temperature fixing properties, offset resistance, development durability, long-term storability, electrification properties, pulverizability, etc.; and a toner containing the same. The binder resin for a toner is comprised of a polyester resin and, dispersed therein, a wax having a substituent selected from among a substituent of aromatic structure (representative example thereof is a group derived from a styrene compound), a carboxyl group and a hydroxyl group, or comprised of a polyester resin having the above wax introduced in the structure thereof. The toner containing the above binder resin for toner exhibits excellent capability in not only, as fundamental performance of toner, low-temperature fixing properties and offset resistance but also development durability, antiblocking properties and pulverizability.