A lightweight, high-strength proppant is disclosed, comprising the formation of finely dispersed ceramic precursors and sintering at low temperatures, causing the formation and retention of mesopores and micropores in pelletized ceramic. A method of manufacturing such a proppant is also disclosed, comprising the steps of manufacturing finely divided ceramic precursors and additives using grinding, milling, and preferably sol-gel processes, and dispersing the finely divided ceramic precursors and additives in a liquid, preferably water. The dispersion has a viscosity profile, which permits the shaping of spheres using conventional pelletizing techniques. Drying of the pellets and sintering at temperatures below 1,400.degrees. C. forms and retains mesopores and micropores in the ceramic. Preferred total pore volumes range from 0.05 to 0.7 cm.sup.3/g. The pelletized and porous ceramic is useful as lightweight and high-strength proppants.