PURPOSE: To efficiently produce a tool having a high shank strength at a low cost by subjecting an carbide powder material and an assistant to extrusion molding so as to obtain a body which has a sword-like shape as a whole, by centering the body and cutting the same into a primary log, and by forming a plastic layer on the primary log to form a shank.

CONSTITUTION: A powder extrusion molding machine produces a primary log in which drill cutting edges 11 and grooves 12 are spirally formed extending from one to the other ends on the outer peripheral surface thereof. Then the log is sintered at a predetermined sintering temperature to obtain a sintered log which is then cut into a unit length L corresponding to the overall length of a drill to be formed so as to obtain a unit sintered body. Then, a thermoplastic resin is cast into dies set around a part indicated by the arrow S of the sintered body, so as to form a shank part 13. Thereafter, the cutting and polishing are made to the cutting edges 11 to finish up a drill having a shank. With this arrangement, it is possible to effectively produce a drill having a high shank strength and a clamping ability.