PROBLEM TO BE SOLVED: To provide a method for utilizing a silt-like substance much in water content, which is generated by the dredging of a dam reservoir or from a water purification plant, a sewage disposal plant and a building site, as new resources. SOLUTION: A silt-like granulated product is obtained by granulating the silt-like substance high in water content into a spherical pellet shape with a mean particle size of 1-10 mm low in water content without adding a binder. The silt-like substance high in water content is supplied to a high speed stirring type granulator in a nodule state containing no binder and granulated into a spherical pellet shape low in water content by granulation action due to high speed stirring accompanying heating and drying to manufacture the silt-like granulated product.