A latent electrostatic image developing toner of the present invention is mainly composed of two or more binder resins, a colorant, a releasing agent and a layered compound. A first binder resin of the binder resins is a polyester resin with an acid value of 15 KOHmg/g or less. The layered compound is a compound in which at least some interlayer ions are modified by organic ions. Toner particles are prepared by granulation in an aqueous medium, and the layered compounds are localized in the surface of the particles by the pelletization in the granulation. The average circularity of the particles is 0.970 or more.