An FePt-based sintered sputtering target containing C and/or BN, wherein an area ratio of AgCu alloy grains on a polished surface of a cross section that is perpendicular to a sputtered surface of the sputtering target is 0.5% or more and 15% or less. An object of this invention is to provide a sputtering target capable of reducing particles generation during sputtering and efficiently depositing a magnetic thin film of a magnetic recording medium.