A method of manufacturing a blade of an ice skate includes the steps of providing a T-shaped stock piece of material having a plate and a leg extending from a center of the plate; machining the plate to form at least one mounting platform for connecting the blade to a skate shoe; machining the leg to form a skate body section that extends from the platform and includes a blade runner holder portion having a diamond cross-sectional shape with a downwardly directed slot. A separate blade runner is fixed to the blade runner holder portion within the slot and positioned for contacting the ice when in use. The blade runner is formed by providing a blade runner-shaped workpiece having a substantially constant thickness; using a vein cutting tool, and machining both lateral sides of an upper edge region of the blade runner-shaped workpiece simultaneously to form a thinner base region. The base region is sized to fit and be secured within the slot.