Provided is a bearing steel capable of exhibiting excellent cold workability in cold working that follows spheroidizing annealing and also capable of ensuring excellent abrasion resistance and rolling fatigue characteristics as a bearing member or the like. The bearing steel contains C: 0.9 to 1.10%, Si: 0.05 to 0.49%, Mn: 0.1 to 1.0%, P: not more than 0.05% (excluding 0%), S: not more than 0.05% (excluding 0%), Cr: 0.03 to 0.40%, Al: not more than 0.05% (excluding 0%), N: 0.002 to 0.025%, Ti: not more than 0.0030% (excluding 0%), and O: not more than 0.0025% (excluding 0%), with the remainder being iron and unavoidable impurities. The average aspect ratio of cementite is not more than 2.00, the average circle-equivalent diameter of cementite is 0.35 to 0.6 μm, and the number density of cementite having a circle-equivalent diameter of not less than 0.13 μm is not less than 0.45/μm2.