To provide a sputtering target for EL light emitting layer formation containing O in a sufficiently low content and also having high density, and to provide a method for manufacturing the same.

The method comprises mainly: an alloying step where metal raw materials at least composed of divalent metal, trivalent metal and luminescence center metal are dissolved to obtain an alloy; a pulverizing step where the obtained alloy is pulverized to obtain alloy powder; a molding stage where, using the obtained alloy powder, a molded product is obtained; and a sintering step where the obtained molded product is sintered to obtain a sintered compact. The alloying step is performed in a vacuum or an inert atmosphere, and also, in the alloying step, upon the melting of the metal raw materials, a water-cooled crucible made of copper is used.

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