Abstract: The invention relates to a sintered alloy. This sintered alloy includes 3-13.4 wt % of W, 0.4-5.6 wt % or 0.8-5.9 wt % of V, 0.2-5.6 wt % of Cr, 0.1-0.6 wt % or 0.6-5.0 wt % of Si, 0.1-0.6 wt % or 0.2-1.0 wt % of Mn, 0.6-2.2 wt % of C, and a balance of Fe. The sintered alloy includes first and second phase which are distributed therein, in a form of spots, respectively. The second phase is in an amount of from 20 to 80 wt %, based on the total weight of the first and second phases. The first phase contains 3-7 wt % of W, 0.5-1.5 wt % of optional V, up to 1 wt % of Cr, 0.1-0.6 wt % or 0.6-5.0 wt % of Si, 0.1-0.6 wt % or 0.2-1.0 wt % of Mn, up to 2.2 wt % of C, and a balance of Fe. The second phase contains 3-15 wt % of W, 2-7 wt % of V, 1-7 wt % of Cr, 0.1-0.6 wt % or 0.6-5.0 wt % of Si, 0.1-0.6 wt % or 0.2-1.0 wt % of Mn, up to 2.2 wt % of C, and a balance of Fe. When the manganese contents of the first and second phases and the total of the sintered alloy are respectively in a range of from 0.2 to 1.