A manufacturing method of ITO powder with tin dissolved in indium oxide, wherein the ITO powder is obtained by performing spray pyrolysis to a mixed solution or slurry of indium nitrate and tin chloride in which the concentration of indium and tin is 3.0 mol/L or more, thereby providing at low costs ITO powder superior in component dispersibility by dissolving tin in indium oxide as well as a precise target superior in uniformity. It is thereby possible to restrain the deterioration of quality or abnormal protrusions such as nodules in cases where the ITO sputtering target deposition is not uniform.