Provided is a magnetic toner, including a toner particle containing a binder resin and a magnetic iron oxide particle, in which: the binder resin includes a resin having a polyester unit in which at least one kind of aliphatic compound selected from the group consisting of an aliphatic monocarboxylic acid having 30 to 102 carbon atoms and an aliphatic monoalcohol having 30 to 102 carbon atoms is condensed at an end of the polyester unit; a content of the magnetic iron oxide particle is from 30 to 80 parts by mass with respect to 100 parts by mass of the binder resin; and the magnetic iron oxide particle satisfies the following conditions: (i) a number-based median diameter D50 is from 0.05 to 0.15 μm; (ii) a number-based ratio D10/D50 is from 0.40 to 1.00; and (iii) a number-based ratio D90/D50 is from 1.00 to 1.50.