A method of manufacturing a vertical cavity surface emitting laser of a mesa structure, the method comprises: sequentially laminating on a substrate a plurality of semiconductor layers including a bottom reflecting mirror, an active layer, a selective oxidation layer and a top reflecting mirror, followed by forming a dielectric film on the laminated semiconductor layers; forming on the dielectric film a first resist pattern comprised of large and small annular opening patterns and large and small annular resist patterns around the same central axis; forming the large and small annular opening patterns in the dielectric film; forming a second resist pattern in the dielectric film so that only the small annular opening pattern is exposed, followed by forming an annular electrode in the exposed small annular opening pattern; and forming a third resist pattern over the annular electrode.