The present invention provides a method for efficiently manufacturing a titanium oxide-containing slag from a material including titanium oxide and iron oxide, wherein a reduction of titanium dioxide is suppressed and the electric power consumption is minimized. The method includes the steps of: heating a raw material mixture including titanium oxide, iron oxide, and a carbonaceous reductant, or the raw material mixture further including a calcium oxide source, in a reducing furnace; reducing the iron oxide in the mixture to form reduced iron; feeding the resultant mixture to a heating melting furnace; heating the resultant mixture in the heating melting furnace to melt the reduced iron and separate the reduced iron from a titanium oxide-containing slag; and discharging and recovering the titanium oxide-containing slag out of the furnace.