Abstract: Proposed herein is a process for producing fine particulate metals comprising reducing fine powder of at least one iron compound selected from the group consisting of iron oxide, iron sulfate and iron chloride with a reducing gas to provide fine particulate iron having a particle size of from 0.1 to 3.0 .mu.m and a specific surface area of from 2.0 to 4.0 m.sup.2 /g, and bringing the fine particulate iron in contact with an aqueous solution containing ions of at least one metal selected from the group consisting of nickel, tin, lead, cobalt, copper and silver thereby forming fine powder of at least one of above-mentioned metals having a particle size of from 0.1 to 3.0 .mu.m in the aqueous solution.