To provide a magnetostrictive material which has excellent magnetostrictive properties and magnetic permeability by eliminating factors of reducing magnetization as much as possible.

The magnetostrictive material has a polycrystal structure, and has a main phase expressed by RT2 (wherein, R is at least one of rare earth elements; and T is at least one of transition metal elements), and a rare earth-rich phase in which the ratio of rare earth elements is higher than that in the main phase. When the total composition of the main phase and the rare earth-rich phase is denoted as RTx, 1.98≤x≤2.00 is satisfied. When the magnetostrictive material with a polycrystal structure is produced by a powder metallurgical process, sintering is performed in a vacuum for a prescribed period.