A method of preparing toner includes: preparing a primary latex by polymerizing a toner composition including a macromonomer having a hydrophilic group, a hydrophobic group and at least one reactive functional group, and at least one polymerizable monomer; preparing a primary agglomerated toner by mixing the primary latex with a pigment dispersion dispersed by the macromonomer and adding an inorganic salt to the mixture; and coating the primary agglomerated toner using a secondary latex including a core formed by polymerizing the macromonomer and at least one polymerizable monomer, a wax layer formed on the core by applying a dispersion in which at least one polymerizable monomer is dispersed in a wax, and a shell layer formed on the wax layer by adding at least one polymerizable monomer to the wax layer. A toner prepared by the method is also provided. According to the method, the manufacture process of toner can be simplified, the amount of wastewater can be minimized by reducing the amount of a surfactant, charge stability, durability, fusing ratio and glossiness of the final toner can be improved by coating the secondary latex having a relatively higher Tg than the primary latex and including a wax layer and a shell layer, and the shape and size of toner particles can be regulated.