A metal powder for powder metallurgy, consisting of: Fe as a principal component; Cr in a proportion of 10% by mass or more and 30% by mass or less; C in a proportion of 0.15% by mass or more and 1.5% by mass or less; Si in a proportion of 0.3% by mass or more and 1% by mass or less; and Mn and Ni in a total proportion of 0.05% by mass or more and 1.6% by mass or less, and optionally at least one of the elements Mo, Pb, S, Al and oxygen, wherein a Mo content in the metal powder is 0.2% by mass or more and 0.8% by mass or less, and/or a Pb content in the metal powder is 0.03% by mass or more and 0.5% by mass or less, and/or a S content in the metal powder is 0.5% by mass or less, and/or an Al 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, and further optionally B, Se, Te, Pd, W, Co, N, Cu 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 V, Y, Zr, Nb, and Hf 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, and wherein the metal powder further optionally containing impurity elements such that the content of each of the impurity elements is less than the content of each of Fe, Cr, Si, the first element, and the second element and such that 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 10% by mass or more and 30% by mass or less; C in a proportion of 0.15% by mass or more and 1.5% by mass or less; Si in a proportion of 0.3% by mass or more and 1% by mass or less; and Mn and Ni in a total proportion of 0.05% by mass or more and 1.6% by mass or less, and optionally at least one of the elements Mo, Pb, S, Al and oxygen, wherein a Mo content in the metal powder is 0.2% by mass or more and 0.8% by mass or less, and/or a Pb content in the metal powder is 0.03% by mass or more and 0.5% by mass or less, and/or a S content in the metal powder is 0.5% by mass or less, and/or an Al 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, and further optionally B, Se, Te, Pd, W, Co, N, Cu 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 V, Y, Zr, Nb, and Hf 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, and wherein the metal powder further optionally containing impurity elements such that the content of each of the impurity elements is less than the content of each of Fe, Cr, Si, the first element, and the second element and such that 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.