To obtain a sputtering target material for forming an electrode mate rial having a composition free from Cr causing environmental problem and excellent in adhesion to a substrate by preparing an Ni-base alloy containing specific percentages of Mo.

Metallic Ni (electrolytic nickel, about 99.99 wt.% purity) and metallic No (about 99.99 wt.% purity) are melted in a high-frequency melting furnace and cast in a die. The resultant casting is subjected to hot forging, cold rolling, and heat treatment, cut off into a shape, e.g. of about 6 in. diameter and about 5 mm thickness, and then subjected to metal bonding to a backing plate made of copper, by which the sputtering target material composed of an Ni-base alloy containing 5-30 wt.% Mo is produced. This sputtering target material can be suitably used, e.g. for the formation of electrodes for electronic circuit packaging components, such as ceramic capacitor, resistance element, semiconductor device, and integrated circuit, and has excellent adhesion when subjected to joining by soldering.