A soft magnetic alloy powder contains Fe, Si, and at least one of Cr and Al, as constituent elements, wherein, on the surface of each grain constituting the alloy powder, an oxide film is provided which is such that: it contains Si, as well as at least one of Cr and Al, as constituent elements; these elements are contained at higher percentages by mass than those in the alloy part inside the grain; and the content of Si, expressed in percentage by mass, is higher than the total content of Cr and Al. The soft magnetic metal powder can achieve a higher filling rate.