A method and apparatus for manufacturing a tonewheel for vehicles. The method includes machining a material into a tonewheel shape, manufacturing a semi-finished tonewheel product having a sensing part in which a plurality of sensing holes is formed at regular intervals in a circumferential direction of the sensing part, by machining the tonewheel shape manufactured at the forming step, and manufacturing a finished tonewheel product having a sensing part of which deformation is recovered, by processing the sensing part of the semi-finished tonewheel product, which is deformed to be curved at the sensing-hole machining step, through a restrike mold. The apparatus is capable of performing the method.