A metal powder for powder metallurgy contains Fe as a principal component, Cr in a proportion of 11.0 mass % or more and 25.0 mass % or less, Ni in a proportion of 8.0 mass % or more and 30.0 mass % or less, Si in a proportion of 0.20 mass % or more and 1.2 mass % or less, C in a proportion of 0.070 mass % or more and 0.40 mass % or less, Mn in a proportion of 0.10 mass % or more and 2.0 mass % or less, P in a proportion of 0.10 mass % or more and 0.50 mass % or less, and at least one of W and Nb in a proportion of 0.20 mass % or more and 3.0 mass % or less in total.