There are provided a sliding member that is enhanced in adhesiveness between the surface of a base member formed of aluminum or aluminum alloy and silver coating with a simple construction, and a method of manufacturing the sliding member. In a piston 1 having a sliding face 22 which slides in a cylinder bore 3, a silver coating layer 21 constituting the sliding face 22 is provided on the outer peripheral surface 11 of a main body 10 formed of aluminum alloy, and the silver coating layer 21 is formed by coating slurry having silver particles 23 dispersed in terpineol on the outer peripheral surface 11 of the main body 10 and heating the coated slurry and the main body 10 to remove terpineol in the slurry and fuse the silver particles 23 with one another.