An object of the present invention is to provide a spherical toner that has a sharp particle size distribution and a small particle diameter. This is a capsule-type toner that exhibits an excellent low-temperature fixability, while at the same time having a high offset resistance and excellent charging properties and having the ability to provide a high-quality image in which the characters, lines, and dots are precisely defined. The object is achieved by a toner comprising a toner particle that comprises at least (a) resin having polyester as the main component, colorant, wax, and (b) urethane resin, wherein the hydroxyl value per specific surface area of the toner particle is fall into the specific range, and wherein a Tg(0.5) and a Tg(4.0)-Tg(0.5) of the toner fall into specific range.