A method of manufacturing an outer joint member of a constant velocity universal joint, which is constructed by forming, through use of separate members, a cup section having track grooves formed at an inner periphery of the cup section and engageable with torque transmitting elements, and a shaft section formed at a bottom portion (12a2) of the cup section, and by welding a cup member forming the cup section and a shaft member forming the shaft section, the method comprising: forming the cup member and the shaft member of medium carbon steel; preparing, as the cup member, a cup member having a cylindrical portion (12a1) and a bottom portion (12a2) integrally formed by forging, and a joining end surface formed on an outer surface of the bottom portion (12a2) in a machining step after the forging; preparing, as the shaft member, a shaft member having a joining end surface to be joined to the bottom portion (12a2) of the cup member, which is formed in the machining step; bringing the joining end surface of the cup member and the joining end surface of the shaft member into abutment against each other; and welding the cup member and the shaft member by radiating a beam from an outer side of the cup member to an abutment portion between the cup member and the shaft member in a radial direction of the cup member, characterized in that the shaft member has a step portion in which the joining end surface is formed and a radially inner side recessed portion formed thereon by forging from a billet (13a") cut from a bar material, and in that the forging of the shaft member comprises a preforming step of forming the step portion in which the joining end surface is formed from the billet (13a") into a tapered shape, and a main forming step of forming the step portion in which the joining end surface is formed and the recessed portion. forming the cup member and the shaft member of medium carbon steel; preparing, as the cup member, a cup member having a cylindrical portion (12a1) and a bottom portion (12a2) integrally formed by forging, and a joining end surface formed on an outer surface of the bottom portion (12a2) in a machining step after the forging; preparing, as the shaft member, a shaft member having a joining end surface to be joined to the bottom portion (12a2) of the cup member, which is formed in the machining step; bringing the joining end surface of the cup member and the joining end surface of the shaft member into abutment against each other; and welding the cup member and the shaft member by radiating a beam from an outer side of the cup member to an abutment portion between the cup member and the shaft member in a radial direction of the cup member, characterized in that the shaft member has a step portion in which the joining end surface is formed and a radially inner side recessed portion formed thereon by forging from a billet (13a") cut from a bar material, and in that the forging of the shaft member comprises a preforming step of forming the step portion in which the joining end surface is formed from the billet (13a") into a tapered shape, and a main forming step of forming the step portion in which the joining end surface is formed and the recessed portion.