A propeller shaft (1) that is a power transmission shaft has a shaft member (2) as a tubular body made of iron-based metal and a balance weight (3) made of iron-based metal and welded to an outer peripheral surface of this shaft member (2). At least a part of the balance weight (3) of the propeller shaft (1) is covered with a sacrificial metal coating (4) made of sacrificial corrosion prevention material that contains metal whose ionization tendency is higher than that of metal forming the shaft member (2). With this, it is possible to suppress local progression of corrosion at a periphery of the balance weight (3) and improve durability of the propeller shaft (1).