A polishing method is used for polishing a substrate such as a semiconductor wafer to a flat mirror finish. A method of polishing a substrate by a polishing apparatus includes a polishing table (100) having a polishing surface, a top ring (1) for holding a substrate and pressing the substrate against the polishing surface, and a vertically movable mechanism (24) for moving the top ring (1) in a vertical direction. The top ring (1) is moved to a first height before the substrate is pressed against the polishing surface, and then the top ring (1) is moved to a second height after the substrate is pressed against the polishing surface.