PURPOSE: To produce a ferrous sintering material excellent in strength and toughness and to provide a method for producing the same by optimizing the material compsn. and a producing method while suppressing deterioration of material and producing cost.

CONSTITUTION: Powder obtd. by adding and mixing Fe-Mo alloy powder and Fe3P powder or Fe-P powder to Fe powder so as to regulate the compsn. of, by weight, 1.0 to 2.0% Mo, 0.3 to 0.8% P, ≤0.1% C, and the balance Fe is charged to a die, which is thereafter compacted to produce a green compact having ≥ 6.8g/cm3 density. After that, this green compact is sintered at ≥1200°C in a nonoxidizing and noncarburizing atmosphere. Then, this sintered body is repressurized to regulate its density to ≥ 7.4g/cm3 and is furthermore reheated at 780 to 960°C, i.e., the temp. lower than the sintering temp. This sintering material is excellent in strength and toughness.