To provide a grinding wheel that makes the wear amount of a worked surface more uniform than ever, and a method of manufacturing the grinding wheel, which enables the grinding wheel like that to be manufactured with ease.

A grinding wheel 10, which includes a cylindrical body part 11 and a worked surface 12, is made of a composite material in which an abrasive material is dispersed in a resin. The resin content of the composite material in an area 15, in which a speed with respect to a workpiece is relatively high when the workpiece is ground or polished, is higher than the resin content of the composite material in an area 13, in which the speed with respect to the workpiece is relatively low.