A composite wear-resistant member and a method of manufacturing the same. The method includes setting an appropriate sintering temperature from 900° C. to 1080° C. by adjusting a ratio of phosphor in a material, wherein the material contains hard particles including diamond particles and WC particles, a binder of an iron group metal containing phosphor (P), and copper, which is distributed and is present alone; and performing hot press sintering or electric discharge sintering on the material. The composite wear-resistant member includes a material including hard particles including diamond particles and WC particles, a binder of an iron group metal containing phosphor, and copper. The phosphor content is from 0.01 to 1.0 wt % with respect to the sum total of the WC particles and the binder.