PURPOSE: To obtain high strength and hardness by a method wherein a composition including balloons having hollow holes in addition to solid abrasive grains and binders is utilized for the grindstone constituted by sintering and forming a granule composition obtained by mixing the solid abrasive grains and the binders in a predetermined ratio.

CONSTITUTION: The grindstone is manufactured by sintering and forming the composition consisting of at least one kind of solid abrasive grains 1, 2 selected arbitrarily from the ceramic composition mixed with an oxide, carbide, nitride, diamond of ceramic in accordance with the usage of the grindstone, the binders 3 of necessary amount and the balloons 6, consisting of a constituent of ceramic or binder same as or different from the abrasive grains 1, 2 and having the hollow holes 8. The frits of the binder 3, including Na2O, MgO, CaO, BO, Al2O3, SiO2, P6P, fildspar, clay, iron oxide and zinc oxide, for example, and the balloons of Al2O3 or the like are utilized for this grindstone.