Abstract: A friction material comprising a sintered mass of iron in which graphite particles are dispersed, which sintered mass is formed from between 13 and 22 vol. % of iron fibers, between 13 and 22 vol. % of iron particles having a particle size of 10-400 .mu.m, between 40 and 70 vol. % of graphite particles having a particle size of 25-3000 .mu.m, and between 10 and 15 vol. % of a metallic binder having a melting point of 800-1140.degree. C., and a method of preparing such a friction material, wherein a mixture of these components is compressed at a pressure of at least 100 MPa so as to form a compact having a desired form and size, and where the compact thus formed is sintered at a temperature between 800 and 1140.degree. C. for a period of time which is sufficiently long for achieving concretion of iron fibers, iron particles and metallic binder.