Provided is a sputtering target which can lower a heat treatment temperature for ordering a Fe—Pt magnetic phase and can suppress generation of particles during sputtering. The sputtering target is a nonmagnetic material-dispersed sputtering target containing Fe, Pt and Ge. The sputtering target includes at least one magnetic phase satisfying a composition represented by (Fe1-αPtα)1-βGeβ, as expressed in an atomic ratio for Fe, Pt and Ge, in which α and β represent numbers meeting 0.35≤α≤0.55 and 0.05≤β≤0.2, respectively. The magnetic phase has a ratio (SGe30mass %/SGe) of 0.5 or less. The ratio (SGe30mass %/SGe) is an average area ratio of Ge-based alloy phases containing a Ge concentration of 30% by mass or more (SGe30mass %) to an area ratio of Ge (SGe) calculated from the entire composition of the sputtering target, in element mapping by EPMA of a polished surface obtained by polishing a cross section perpendicular to a sputtering surface of the sputtering target.