A method of producing a forged part includes holding a material by a jig, upsetting the material, held by the jig, to a predetermined length by a pair of upsetting dies disposed on both ends of the material, while pressing the upsetting dies on the material, so as to produce large-diameter portions at the respective axial ends of the material. Next, a bending operation and a forging operation are made to the upset material, in that order. When forging, a direction, in which the material is forged, is set, so that a burr generated on the material by upsetting is included in a burr generated on the material by forging. Next, a finish-machining operation is made to the forged material to remove the burr left on the outer periphery of the material after forging. Thereafter, the finish-machined material is drilled to form bush-mounting holes in the large-diameter portions.