A method of manufacturing a space transformer for a probe card includes the steps of mounting and electrically connecting second substrates on a first substrate, forming an insulated layer with through holes on each of the second substrates, and forming electrically conductive blocks in the through holes, respectively. Because the electrically conductive blocks are formed after the second substrates are mounted to the first substrate, any unexpected relative displacement of the first and second substrates during mounting is uninfluential to positions of the electrically conductive blocks. Besides, a step of planarizing the electrically conductive blocks can be further carried out. Therefore, the positions and flatness of probe needles may not need to be adjusted after the probe needles are connected with the electrically conductive blocks of the space transformer thus obtained.