Abstract: The wear-resistant compound roll is constituted by a shell portion made of an iron-base alloy having the composition consisting essentially of 1.0-3.5 weight % of C, 3.0 weight % or less of Si, 1.5 weight % or less of Mn, 2-10 weight % of Cr, 9 weight % or less of Mo, 20 weight % or less of W, 2-15 weight % of V, 0.08 weight % or less of P, 0.06 weight % or less of S, 300 ppm or less of B, the balance being substantially Fe and inevitable impurities, and a shaft portion made of steel. The iron-base alloy of the shell portion has a structure containing by an area ratio 5-30 % of granular carbides and 5 % or less of non-granular carbides, an alloy matrix of the shell portion having a Vickers hardness (Hv) of 550 or more. This compound roll has excellent wear resistance and resistance to surface roughening.