A toner has a storage elastic modulus (G') of 500 Pa or more at a frequency of 1 Hz and temperature of 180.degree. C., while the toner is obtained by dissolving or dispersing a toner composition in an organic solvent, further dispersing the solution or dispersion thereof in an aqueous medium containing fine resin particles as well as being reacted with a compound having an active hydrogen group, and removing the solvent from the obtained aqueous dispersion.