There is provided a method of manufacturing an outwardly flanged metal member, by which a metal member having outward flange portions which extend radially outwardly from a plurality of positions along a circumferential direction on an outer peripheral surface can be formed without a flash, or with a reduced amount of a flash. While surrounding a periphery of a metal blank 15 by a stationary die 21 and a movable die 22 and butting a distal face of the movable die 22 and a distal face of the stationary die 21, an axial end face of the blank 15 is plastically deformed by pressing the axial end face with the punch under a warm or hot condition to form the outward flange portions 7a by filling flange molding cavities 32 with a portion of the blank 15.