To provide an inexpensive heat-resisting steel for engine valves by causing Fe-based heat-resisting steel to exhibit high temperature strength not inferior to that of Ni-based heat-resisting steel. A heat-resisting steel for engine valves excellent in high temperature strength containing, in % by mass, C: 0.20 to 0.50%, Si: 1.0% or less, Mn: 5.0% or less, P: 0.1 to 0.5%, Ni: 8.0 to 15.0%, Cr: 16.0 to 25.0%, Mo: 2.0% or less (including 0%), Cu: 0.5% or less, Nb: 1.0% or less (including 0%), W: 2.0% or less (including 0%), N: 0.02 to 0.30%, B: 0.01% or less, and remnants of Fe and impurities, wherein the heat-resisting steel for engine valves satisfies formulae below: 156.42P(%)+0.91Mo(%)+0.73W(%)−12.27Nb(%)+220.96N(%)+120.59≧170  Formula (1) 13.70P(%)−6.97Mo(%)−4.32W(%)−3.29Nb(%)+119.10N(%)+27.75≧25  Formula (2).