PURPOSE: To improve the toughness and wear resistance of a roll by mixing an Fe alloy contg. specific weight % of C, Si, Mn, Ni, Cr, Mo, Co, and W and VC powder at a prescribed ratio and executing plasma build-up welding.

CONSTITUTION: The Fe alloy powder having the chemical compsn. adjusted, by weight %, to 0.8W1.5% C, 0.1W2.0% Si, 0.1W1.0% Mn, 0.2W1.5% Ni, 1.0W5.0% Cr, 1.0W5.0% Mo, 5.0W15.0% Co, and 5.0W15.0% W, and the VC powder are mixed at a ratio of 10W30% VC powder. A roll base body 1 is then subjected to plasma build-up welding by means of a welding torch 3, an electrode 4 and a shielding gas 10. An overlay layer 2 forms fine high hardness carbide and contributes to the improvement in both the wear resistance and toughness of the roll.