The invention provides a web transfer belt, having good paper releasability, that can be produced with ease and at a low cost without increasing either its hardness or its weight, and a production process therefor. In one embodiment, the web transfer belt includes a high-molecular weight elastic member formed using a resin material mixed with microcapsules (alternatively, closed bubbles or closed bubbles created by a foaming agent), and having a web-receiving face for receiving a web P thereon to transfer, at whose web-receiving face there are provided a multitude of recesses having cut-openings of the microcapsules, such that a water film W easy to be formed between the web-receiving face and the web P can be broken by a large number of recesses.