To improve assemblability and productivity of a transmission belt by simplifying assembly of elements to be finally assembled.

In this transmission belt 1, a plurality of elements 6 formed in a plate-like shape are annularly aligned opposing each other with matched attitudes and bundled by a ring 10. A protruding portion 7 is formed on the front of each element 6, and a recessed portion 8 fitted with the protruding portion 7 is formed on the back of each element 6. A guide face 14 is formed on at least one of a portion of a back face of one element 6L out of at least a pair of elements 6 adjacent with each other further on the inner peripheral side than the recessed portion 8, and a tip end of the protruding portion 7 of the other element 6F, upon relatively moving and assembling the other element 6F to the one element 6L from the inner peripheral side to the outer peripheral side so that the guide face 14 is inclined to gradually increase the interval between the elements 6F, 6L.