Provided is a method of manufacturing a soft magnetic dust core. The method includes: preparing coated powder including amorphous powder made of an Fe-B-Si-P-C-Cu-based alloy, an Fe-B-P-C-Cu-based alloy, an Fe-B-Si-P-Cu-based alloy, or an Fe-B-P-Cu-based alloy, with a first initial crystallization temperature Tx1 and a second initial crystallization temperature Tx2; and a coating formed on a surface of particles of the amorphous powder; applying a compacting pressure to the coated powder or a mixture of the coated powder and the amorphous powder at a temperature equal to or lower than Tx1−100 K; and heating to a maximum end-point temperature equal to or higher than Tx1−50 K and lower than Tx2 with the compacting pressure being applied.