A metal powder for powder metallurgy, consisting of: Fe as a principal component; Cr in a proportion of 15% by mass or more and 26% by mass or less; Ni in a proportion of 7% by mass or more and 22% by mass or less; Si in a proportion of 0.3% by mass or more and 1.2% by mass or less; and C in a proportion of 0.005% by mass or more and 0.3% by mass or less, and optionally at least one of the elements Mn, Mo, Cu, N, S and oxygen, wherein a Mn content in the metal powder is 0.01% by mass or more and 3% by mass or less; and/or a Mo content in the metal powder is 1% by mass or more and 5% by mass or less; and/or a Cu content in the metal powder is 5% by mass or or less; and/or a N content in the metal powder is 0.03% by mass or more and 1% by mass or less; and/or a S content in the metal powder is 0.5% by mass or less, and/or an oxygen content in the metal powder is 0.8% by mass or less, optionally W, Co, B, Se, Te, Pd, Al with an individual content of each of said elements being less than 0.1% by mass and the total content of said elements being less than 0.2% by mass, wherein when one element selected from the group consisting of Ti, V, Y, Zr, Nb, Hf, and Ta is defined as a first element, and one element selected from the group consisting of Ti, V, Y, Zr, Nb, Hf, and Ta, and having a larger group number in the periodic table than that of the first element or having the same group number in the periodic table as that of the first element and a larger period number in the periodic table than that of the first element is defined as a second element, the first element is contained in a proportion of 0.01% by mass or more and 0.5% by mass or less, and the second element is contained in a proportion of 0.01% by mass or more and 0.5% by mass or less, wherein a combination of said first element being Zr and said second element being Nb is excluded, a combination of said first element being Ti and said second element being Nb is excluded, a combination of said first element being Ti and said second element being Zr is excluded, and wherein the metal powder further optionally consists of impurity elements such that the content of each of the impurity elements is less than the content of each of Fe, Cr, Ni, Si, the first element, and the second element, and the content of each of the impurity elements is less than 0.03% by mass and the total content of the impurity elements is less than 0.3% by mass. Fe as a principal component; Cr in a proportion of 15% by mass or more and 26% by mass or less; Ni in a proportion of 7% by mass or more and 22% by mass or less; Si in a proportion of 0.3% by mass or more and 1.2% by mass or less; and C in a proportion of 0.005% by mass or more and 0.3% by mass or less, and optionally at least one of the elements Mn, Mo, Cu, N, S and oxygen, wherein a Mn content in the metal powder is 0.01% by mass or more and 3% by mass or less; and/or a Mo content in the metal powder is 1% by mass or more and 5% by mass or less; and/or a Cu content in the metal powder is 5% by mass or or less; and/or a N content in the metal powder is 0.03% by mass or more and 1% by mass or less; and/or a S content in the metal powder is 0.5% by mass or less, and/or an oxygen content in the metal powder is 0.8% by mass or less, a Mn content in the metal powder is 0.01% by mass or more and 3% by mass or less; and/or a Mo content in the metal powder is 1% by mass or more and 5% by mass or less; and/or a Cu content in the metal powder is 5% by mass or or less; and/or a N content in the metal powder is 0.03% by mass or more and 1% by mass or less; and/or a S content in the metal powder is 0.5% by mass or less, and/or an oxygen content in the metal powder is 0.8% by mass or less, optionally W, Co, B, Se, Te, Pd, Al with an individual content of each of said elements being less than 0.1% by mass and the total content of said elements being less than 0.2% by mass, wherein when one element selected from the group consisting of Ti, V, Y, Zr, Nb, Hf, and Ta is defined as a first element, and one element selected from the group consisting of Ti, V, Y, Zr, Nb, Hf, and Ta, and having a larger group number in the periodic table than that of the first element or having the same group number in the periodic table as that of the first element and a larger period number in the periodic table than that of the first element is defined as a second element, the first element is contained in a proportion of 0.01% by mass or more and 0.5% by mass or less, and the second element is contained in a proportion of 0.01% by mass or more and 0.5% by mass or less, wherein a combination of said first element being Zr and said second element being Nb is excluded, a combination of said first element being Ti and said second element being Nb is excluded, a combination of said first element being Ti and said second element being Zr is excluded, and wherein the metal powder further optionally consists of impurity elements such that the content of each of the impurity elements is less than the content of each of Fe, Cr, Ni, Si, the first element, and the second element, and the content of each of the impurity elements is less than 0.03% by mass and the total content of the impurity elements is less than 0.3% by mass.