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 a ratio of coverage of the magnetic toner particles' surface by the inorganic fine particles is in a prescribed range for the magnetic toner, the inorganic fine particles contain prescribed metal oxide fine particles, with at least 85 mass % of the metal oxide fine particles being silica fine particles, the coefficient of variation on the coverage ratio A is in a prescribed range, the binder resin contains a styrene resin, in a GPC measurement of a THF-soluble matter in the magnetic toner, a peak molecular weight (Mp) of a main peak is in a prescribed range, and a prescribed fatty acid ester compound is incorporated as a release agent.