A steel material according to the present disclosure has a chemical composition consisting of, in mass %: C: 0.15 to 0.45%, Si: 0.05 to 1.00%, Mn: 0.01 to 1.00%, P: 0.030% or less, S: 0.0050% or less, Al: 0.005 to 0.100%, Cr 0.55 to 1.10%, Mo: 0.70 to 1.00%, Ti: 0.002 to 0.020%, V: 0.05 to 0.30%, Nb: 0.002 to 0.100%, B: 0.0005 to 0.0040%, N: 0.0100% or less, O: less than 0.0020%, and the balance being Fe and impurities, and satisfying Formula (1) described in the specification. A grain diameter of a prior-austenite grain is 15.0 μm or less, and an average area of precipitate which is precipitated in a prior-austenite grain boundary is 12.5×10−3 μm2 or less. A yield strength is 758 to 862 MPa.