The present disclosure relates to a coaxial connector and a method for producing an outer contact of the coaxial connector. The coaxial connector comprises a body, an inner contact, an outer contact, and a dielectric spacer. The body may be provided with a through hollow cavity, and the inner contact and the outer contact may be coaxially arranged in the hollow cavity of the body and may be spaced apart radially by the dielectric spacer. The outer contact may be in a shape of thin-wall cylinder and may comprise a plurality of spring fingers. The plurality of spring fingers may be spaced apart circumferentially by a plurality of slots. An end of each spring finger may be provided with a flange, and each flange may extend outwardly in a radial direction and comprises an arc portion and a flat portion. The outer contact with such a structure may provide a good interconnection quality when mating with a corresponding mating connector. The outer contact of the coaxial connector may be formed by stamping a tube, which, compared with prior art method, significantly increases the processing efficiency and reduces material and personnel costs.