To provide a driving belt which includes annular metal cords preventing twist and looseness with respect to continuous repeated load and capable of maintaining a wound state, prevents break and can be easily manufactured, and a method of manufacturing the driving belt.

The driving belt B1 includes the annular metal cords C1 as a tensile-resistant body and a cover part 70 covering the annular metal cords C1. In the annular metal cord C1, an original cord 20 formed by twisting at least six strand materials 1 is untwisted, and one strand material 1 is wound to form an annular shape by fitting a surplus length portion 1e into a spiral space portion 5 from which the other strand materials 1 are removed while looped six times. A relationship between inner diameter Di of a hollow part C1a formed at an annular winding center of the strand material 1 and diameter Ds of the strand material 1 satisfies Di/Ds≥1.07. Both terminals 1a, 1b of the strand material 1 of which total length is longer than one circle of the annular shape are stored in the hollow part C1a.