The present invention relates to a process for producing a toner for development of electrostatic images, including step (1) of mixing a releasing agent and a water dispersion of resin particles (A) to obtain a water dispersion of releasing agent particles; step (2) of mixing the obtained water dispersion of the releasing agent particles and a water dispersion of resin particles (B) to aggregate the releasing agent particles and the resin particles (B), thereby obtaining aggregated particles; and step (3) of coalescing the obtained aggregated particles to obtain coalesced particles, in which the resin particles (A) include a composite resin including a segment (a1) constituted of a polyester resin and a vinyl-based resin segment (a2) containing a constitutional unit derived from a styrene-based compound; and a resin constituting the resin particles (B) includes a segment (b1) constituted of a polyester resin in an amount of not less than 50% by mass.