There is disclosed a method of producing a pre-oxidation fiber in the production of the pre-oxidation fiber by subjecting a polyacrylic precursor fiber to pre-oxidation processing in an oxidizing atmosphere, including shrinking the precursor fiber as a pretreatment of pre-oxidation at a load of 0.58 g/tex or less in the temperature range of 220 to 260° C. under conditions in which the degree of cyclization (I1620/I2240) of the precursor fiber measured by a Fourier transform infrared spectrophotometer (FT-IR) does not exceed 7%, initially-drawing the precursor fiber at a load of 2.7 to 3.5 g/tex in an oxidizing atmosphere at 230 to 260° C. in the ranges of the degree of cyclization of not exceeding 27% and of the density of not exceeding 1.2 g/cm3, and then subjecting the pre-oxidation fiber to pre-oxidation treatment. A carbon fiber of high strength and high elasticity that is appropriate for composite materials that exhibit high composite performance is obtained by continuously subjecting this pre-oxidation fiber to carbonization treatment.