A grinding wheel having hollow particles, along with abrasive grains, fixed by a bonding material. The abrasive grains may be diamond grains. The hollow particles may consist essentially of silica. The bonding material may be electrodeposited nickel. The grinding wheel is manufactured by performing an abrasive grain electrodeposition step of immersing a base, with a plating surface being pointed upward, in a plating solution, in which the abrasive grains having a larger specific gravity than the plating solution are dispersed, to deposit the abrasive grains settling in the plating solution on the plating surface, and also deposit a plating metal on the plating surface; and a hollow particle electrodeposition step of immersing the base, with the plating surface being pointed downward, in a plating solution, in which the hollow particles having a smaller specific gravity than the plating solution are dispersed, to deposit the hollow particles floating in the plating solution on the plating surface, and also deposit a plating metal on the plating surface.