Abstract: A nickel powder for multilayer ceramic capacitors according to the present invention is characterized in that an average particle size of a nickel powder is 0.1 to 1.0 &mgr;m, and the number rate of a nickel powder having a particle size of 2 &mgr;m or more is not more than 700 per million. As a process for producing such nickel powder, a process in which slurry containing a nickel powder having an average particle size of 0.1 to 1.0 &mgr;m in the amount of 5 to 25% by weight is classified using a hydrocyclone in which powders in a powder-liquid mixture are classified into at least coarse particles and fine particles, is preferred. According to the nickel powder of the present invention, the content of coarse particles is low, the particle size distribution is narrow, and the surface roughness in the paste state is decreased, and therefore, the nickel powder is extremely suitable for multilayer ceramic capacitors.