A purpose of the present invention is to provide a flux-cored wire that excels in slag removability and weldability, and is capable of high-efficiency operation without the risk of reheat cracking and makes it possible to obtain a welding bead with high corrosion resistance even when used in equipment operating at high temperature for a long time. The present invention relates to a flux-cored wire for gas-shielded arc welding that is used for welding using a specific shielding gas having a high Ar ratio, includes substantially no As, Sb, Pb and Bi, has slag component and alloy component compositions satisfying predetermined conditions, and satisfies the relationship {(3×└O2┘)+└CO2┘+(0.0085×A2)−(0.19×A)}≤20.0 (where A={└Cr┘+(4.3×└Nb┘)}).