To provide a cermet that is excellent in wear resistance and chipping resistance and also is excellent in thermal shock resistance and welding resistance, and a method for producing the same.

The cermet is obtained by binding hard phases using a binder phase. The hard phases are classified into: a first hard phase 1 which only comprises Ti (C, N); a second hard phase 2 which comprises a solid solution of a composite carbonitride including at least titanium and tungsten; and a third hard phase 3 which comprises the same elements as the second hard phase and has higher tungsten concentration than the second hard phase. When in an optional cross-sectional surface which bisects the volume, area ratios of a first square area centering on the point of 150 μm deep and a second square area centering on the point of 5 μm deep are Sx and Sy respectively, Sy/Sx<0.75 is satisfied. Also in the optional cross-sectional surface above, there is no exposed layer of the binder phase which continues with a thickness of at least 1 μm and with a length of at least 1 μm in the width direction orthogonal to the thickness direction in the case surface.