A nickel powder with an average particle size of 0.05 to 1.0 μm, which is composed of nickel particles having an oxidized surface layer and containing sulfur, wherein the sulfur content with respect to the total weight of the powder is 100 to 2000 ppm, and the intensity of a peak identified to sulfur bonded to nickel in surface analysis by ESCA of the nickel particles varies in a direction toward the center from the surface of the particles, and this intensity has its maximum at a location deeper than 3 nm from the particle outermost surface. This nickel powder is manufactured by bringing a nickel powder containing sulfur and dispersed in a non-oxidizing gas atmosphere into contact with an oxidizing gas at a high temperature.