Disclosed are a toner for developing an electrostatic latent image and a method of preparing the same. The toner may include latex, a pigment and a releasing agent. The lowest crossover temperature of the toner at which the storage modulus (G′) and the loss modulus (G″) of the toner are substantially equal to each other may be in the range of about 65 to about 80° C. The weight average molecular weight (Mw) of the toner may be in the range of about 65,000 to about 75,000. The z-average molecular weight (Mz) of the toner may be in the range of about 110,000 to about 220,000.