There are provided a cutting/polishing tool that may be readily manufactured and have an improved cutting performance, and a manufacturing method thereof.The method for manufacturing the cutting/polishing tool including at least one cutting/polishing body may comprise preparing a tool body, and forming a cladding layer including cutting material particles by spraying, onto an outer surface of the tool body, the cutting material particles and a metal powder having a specific gravity greater than a specific gravity of the cutting material particles while heating the outer surface of the tool body using a heating device installed in a lower side of the outer surface of the tool body so that the metal powder is deposited on the outer surface of the tool body, wherein the cladding layer configures the at least one cutting/polishing body.