PURPOSE: To obtain an electrode material in which oxide fine grains are uniformly dispersed and excellent in mechanical and electrical characteristics by melting components constituted of Ag, Cu, Ni and oxides by acid, sealing it into a container and executing heating and pressurizing while pressure is reduced.

CONSTITUTION: Components contg. 3 to 40wt.% of one or plural kinds among Ag, Cu and Ni and heat resistant oxides or elements are melted by nitric acid or the like into a muddy mixture. This mixture is filled into a container of a plastic tube essentially consisting of Ag, Cu and iron family elements, and with either opening port, a vacuum sucking pump is directly connected. The tube is put in a HIP mechanism and is treated in such a manner that heating and pressurizing are harmoniously executed to disperse the oxide fine grains into a base metal as ultrafine grains. This electrode material has good adhesion with an electrode holder and is a preferable one which is not eroded by zinc in the welding of a galvanized steel sheet or the like.