Abstract: An electrical contact material and method of producing the same are provided. The material is an internally oxidized silver eutectic alloy system with a main component of silver to which at least one of silicon and germanium is added and, for characteristic improvement purpose, at least one selected from at least one of the groups consisting respectively of gold, platinum and the like, titanium, rhenium and the like, and iron, cobalt and the like is further added. In producing the material, an ingot of said alloy is hot-worked and then internally oxidized at a temperature in a range from 250.degree. C. to the eutectic temperature of the alloy.