To provide a method for manufacturing an electric contact material which can inhibit welding from occurring even when the material is exposed to a high temperature by an arc that is generated during a current switching operation; the electric contact material which is obtained by the method; and a thermal fuse.

This method for manufacturing the electric contact material includes: preparing an alloy composed of 1 to 15 mass% Cu, 0.01 to 0.7 mass% Ni and the balance Ag with unavoidable impurities; supplying oxygen in an amount exceeding the amount of oxygen required to internally oxidize Cu, onto the surface layer of the alloy; and forming an oxygen-concentrated layer. The thermal fuse is manufactured by using a movable electrode which has been formed with the use of the electric contact material.