To provide a transmission belt including an annular metal cord, capable of preventing twist thereof from being loosened against a continuously repetitive load and capable of maintaining the wound shape thereof, hard to be broken and easy to be manufactured, and to provide a method of manufacturing the same.

This transmission belt B1 includes an annular metal cord C1 as a tensile strength body and a covering part 70 covering the annular metal cord C1. The annular metal cord C1 is divided into two groups of wire materials obtained by unstranding a metal cord 20, which is formed by stranding several strand materials 1 and 2 together, and different in total cross sectional area, setting a group of the strand materials 1 larger in total cross sectional area as a reused wire material group 3, and a group of the strand materials 2 smaller in total cross sectional area as a non-used wire material group 4. One strand material of the reused wire material group 3 is annularly wound several times, fitting the surplus length part 1e thereof in a spiral cavity 5 formed by taking out other strand material 1 among the reused wire material and the non-used wire material group 4 in an annular part 1d.