A wafer processing method for processing a wafer of a two-layer structure having a second wafer laminated on a front surface of a first wafer includes a stepped part forming step of cutting from the second wafer side to a peripheral surplus region of the first wafer to a depth corresponding to a finished thickness of the first wafer, thereby removing a chamfered part formed at a peripheral end of the second wafer and forming an annular stepped part in the peripheral surplus region of the first wafer, and a second wafer griding step of, after the stepped part forming step is carried out, grinding an exposed surface of the second wafer to make the second wafer to have a predetermined thickness.