The invention provides a method of manufacturing a photothermographic material excellent in coating stability with less haze in images, wherein the photothermographic material has, on at least one side of a support, an image forming layer containing at least a photosensitive silver halide, a non-photosensitive organic silver salt, a reducing agent, and a binder and at least one non-photosensitive layer above the image forming layer relative to the support, wherein (1) both the image forming layer and the non-photosensitive layer are formed with an aqueous coating solution, and (2) the coating solution for the image forming layer contains a phthalic acid salt or a salt of a derivative thereof, as well as a photothermographic material formed therewith.