Abstract: A powder for a sintered valve sheet made of an iron-based alloy is provided, which has excellent compactibility and abrasion resistance and from which a carbide that may abrade a counterpart is not precipitated. A powder is provided, wherein a molten steel, in which carbon is controlled to be less than 0.1% by mass to avoid precipitation of a carbide, 0.5 to 8.5% by mass of Si, 10 to 25% by mass of Ni, 5 to 20% by mass of Mo, and 5 to 20% by mass of Co are contained, and a remainder includes Fe and incidental impurities, is rapidly cooled by a conventional technique such as a gas atomization method, a water atomization method, or a centrifugal force atomization method, so that a supersaturated solid solution of the alloy elements consisting mainly of austenite, which is effective in softening the powder, is formed. Since the powder has low hardness, the compactibility is excellent at the time of compression molding.