A magnetic toner contains magnetic toner particles containing a binder resin, a release agent, and a magnetic body and inorganic fine particles present on the surface of the magnetic toner particles, wherein the inorganic fine particles present on the surface of the magnetic toner particles contain metal oxide fine particles, as described in the specification. The coverage ratio of the magnetic toner particles' surface by the inorganic fine particles and the coverage ratio by the inorganic fine particles fixed to the magnetic toner particles' surface reside in a prescribed relationship, the binder resin contains a polyester resin, the release agent contains an ester compound, and an endothermic peak for the magnetic toner has a prescribed value.