Disclosed is a method for manufacturing an element for a CVT belt, comprising a body portion (22L, 22R) having right and left sides and a tapered portion with a downwardly reducing width, a neck portion extending upward from the body portion, and a head portion extending upward from the neck portion. The manufacturing method comprises a first punching step in which a metal strip blank (31) which has a uniform thickness and a width which makes it possible obtain elements arrayed on an even number of lines in an arrangement in which the head portions are opposed to each other or an arrangement in which the body portions are opposed to each other, is punched along an outline ((33L, 33R) of an excess material (21b) added to profiles of the left and right sides (21L, 21R) of the body portions, and along an outline (58L, 58R) of an excess material (32b) added to a profile of a lower side (32L, 32R) of the body portion; a plastic deformation step in which the blank is compressed in the thickness direction to form a predetermined projection and depression, and form the tapered portion while displacing the material in the outline directions; and a second punching step in which the element is obtained as a product by punching the blank.