The present invention relates to an MgB₂-based superconductor that is easy to manufacture and well suited to mass production, and that exhibits excellent superconducting characteristics (such as a high critical current density) while still retaining the high critical temperature characteristics of MgB₂. A powder mixture of magnesium, boron, and titanium is pressed into a pellet, and this product is sintered under an atmospheric pressure and other conditions (preferably at 600 C. or higher) to manufacture an MgB₂-based superconductor in which titanium and/or a titanium compound are dispersed in polycrystalline MgB₂. The composition of the MgB₂-based superconductor is preferably adjusted to have an atomic ratio of Mg:B:Ti=x:2:y, 0.7x1.2 and 0.05y0.3, and more preferably 0.07y0.2, by adjusting the amounts in which the raw materials are added.