A method for manufacturing ferrite powder comprises a step (a) of causing a precursor, obtained by a liquid-phase reaction method, to pass through a sieve with openings of 2 mm or less, and a step (b) of causing free fall, through the interior of a furnace tube heated to the range 750 to 1250° C. by a heater, of the precursor which has passed through the sieve. In the process of causing free fall through the interior of the furnace tube heated by the heater, ferrite powder, which is a single phase of hexagonal ferrite, is obtained by heating the precursor to a prescribed temperature and holding the precursor at the prescribed temperature.