A method for manufacturing a press-molded product by cold-pressing a composite material containing a discontinuous carbon fiber and a thermoplastic resin, is provided. The method satisfies equations (1) and (2) and includes Steps 1 to 5: Step 1 is a step of placing a heated composite material in a mold; Step 2 is a step of allowing 1 second or less between pressurization start time t0 and time t1 of reaching flow starting pressure Pf; Step 3 is a step of reaching maximum pressure Pm at time t2; Step 4 is a pressure holding step of pressing the composite material at an average holding pressure Pk from time t2 to time t3; and Step 5 is a step of opening the mold and taking out a molded product from the mold; equation (1):  4