An annular guide ring for controlling the position of at least one of rolling elements and a bearing cage in relation to an inner ring of a rolling bearing. The guide ring comprises a base portion, a first side portion extending in a radial direction from a first axial end portion of the base portion, and a second side portion extending in a radial direction from a second axial end portion of the base portion, wherein the first side portion and the second side portion are integrally formed with the base portion of a one-piece sheet material. Also described is a method for manufacturing the guide ring for the rolling bearing.