Provided is a Co—Cr—Pt—B alloy sputtering target comprising an island-shaped rolled structure formed from a Co-rich phase based on the primary crystal formed upon casting, and a Co—Cr—Pt—B alloy sputtering target in which the island-shaped rolled structure has an average size of 200 μm or less. This Co—Cr—Pt—B alloy sputtering target has an uniform and fine rolled structure with minimal segregation and residual stress upon casting, and the present invention aims to enable the stable and inexpensive manufacture of the target, prevent or suppress the generation of particles, and to improve the production yield of deposition.