Abstract: Provided is an ultrafine nickel powder suitable for a laminated ceramic capacitor electrode material. According to the ultrafine nickel powder, cracks and/or delamination are not liable to generate in the process for producing a ceramic capacitor, and its internal electrode can be made into a thinner layer, and the electric risistivity of the capacitor can be made low. The ultrafine nickel powder has an average particle size of 0.1-1.0 &mgr;m, having the sulfur content of 0.02-1.0% by weight, and particles thereof being spherical, thereby exhibiting excellent properties. They can be produced by vapor phase hydrogen-reducing process using nickel chloride vapor.