Samuel B. Sherwin, 61 president of the Toy Manufacturers of America Inc., a trade association, and a former White House and Commerce Department aide, died of cancer Tuesday, at the Memorial Sloan-Kettering Cancer Center in New York.

Mr. Sherwin was appointed a deputy assistant secretary of Commerce by former president Richard M. Nixon in 1974. He later moved to the White House as director of the Bureau of Domestic Commerce under former president Gerald R. Ford. He became president of the Toy Manufacturers in 1977.

A native of New York, Mr. Sherwin earned degrees at the City College of New York and New York University. He also studied at Columbia University. He was a business consultant in Hartford, Conn., before joining the government.

Survivors include his wife, Lola, of the home in New York; two sons, Donald, of Falls Church, and Dr. Stephen, of Annandale, and two daughters, Patricia Garland, of New Haven, Conn., and Betsy Sherwin, of Cambridge, Mass.

The family suggests that expressions of sympathy be in the form of contributions to the Memorial Sloan-Kettering Cancer Center, 1275 York Ave., New York, N.Y.y be in the form of contributions to the Memorial Sloan-Kettering Cancer Center, 1275 York Ave., New York, N.Y.