To provide a spacer screw and a method of manufacturing the spacer screw having a long life of a tool and a practical value because of being surely manufactured by an ordinary tapping machine while minimizing the formation of untapped products and forming no imperfect screw parts.

A penetrating screw part 3 is machined by tapping a cylindrical spacer member 1 or a nut 1c in a retractably penetrating manner, while a collar part 6 or a spacer part 1a is integrally formed at one end of the screw part 3 having an external thread part 5, and one end of the spacer member 1 or nut and the collar part 6 or the spacer part 1a are integrally stuck by an electric resistance welding means through a protrusion part for a weld penetration allowance. The spacer screw can thereby be manufactured without forming an imperfect screw region at the screw part 3 of the spacer member 1 or nut 1c.