A binder resin for a toner containing a vinyl resin (A), a non-crystalline polyester resin (SN) and a saturated crystalline polyester resin (SC), in which the content of the vinyl resin (A) is equal to or more than 65 mass % and equal to or less than 95 mass %, based on the total content of 100 mass % of (A), (SN) and (SC), (A) is composed of a carboxyl group-containing vinyl resin (C), a glycidyl group-containing vinyl resin (E) and a reaction product of the vinyl resins, the ester group concentration of (SC) is equal to or more than 10.0 mmol/g and equal to or less than 13.5 mmol/g, (SN) is dispersed in an island form in (A) and (SC) is contained in the island phase of (SN), and the metal component (M) containing at least one kind selected from the group consisting of Zn, Ca, Mg, Al and Ba (excluding metal oxide) is contained at least in (SC).