Provided is a method of manufacturing toner by which the toner capable of forming high quality images and reproducing high density gradation, which exhibits an excellent high-temperature offsetting property together with excellent low-temperature fixability, and provides appropriate gloss with respect to images to be formed, can be stably prepared; and also provided is the toner. After conducting a step in which particles made of at least a crystalline polyester resin are coagulated to form core coagulated particles, and an unsaturated amorphous polyester resin particle is attached onto the surface of each of the core coagulated particles to form core-shell type coagulated particles, radical polymerization reaction is conducted by acting a radical polymerization initiator on the foregoing core-shell type coagulated particles to conduct a step in which a layer made of a crosslinking amorphous polyester resin is formed on the surface of each of the core coagulated particles.