A magnetic toner having magnetic toner particles each containing at least a binder resin and a magnetic iron oxide particle, in which: when a solution is prepared by dissolving the magnetic iron oxide particles in an acidic aqueous solution and an Fe element amount in a solution in which all the magnetic iron oxide particles are dissolved is defined as a total Fe element amount, a ratio X of the amount of Fe(2+) in a solution in which the magnetic iron oxide particles are dissolved to a state where 10 mass % of the total Fe element amount is present in the solution (solution having an Fe element-dissolving ratio of 10 mass %) to an Fe element amount in the solution having a specific Fe element-dissolving ratio; and the dielectric loss tangents of the magnetic toner measured at a temperature of 40.degree. C. satisfy specific conditions.