To provide a fine nickel powder for an internal electrode paste of an electronic component, the nickel powder obtained by a wet method and having high crystallinity, excellent sintering characteristics, and heat-shrinking characteristics. The nickel powder is obtained by precipitating nickel by a reduction reaction in a reaction solution including at least water-soluble nickel salt, salt of metal nobler than nickel, hydrazine as a reducing agent, and alkali metal hydroxide as a pH adjusting agent and water; the reaction solution is prepared by mixing a nickel salt solution including the water-soluble nickel salt and the salt of metal nobler than nickel with a mixed reducing agent solution including hydrazine and alkali metal hydroxide; and the hydrazine is additionally added to the reaction solution after a reduction reaction initiates in the reaction solution.