PURPOSE: To produce metallic powder for magnetic recording having excellent characteristics by coating acicular or fusiform metallic particles composed mainly of iron with a polycyclic arom. compd. and regulating a major axial length, axial ratio and saturation magnetization.

CONSTITUTION: The acicular or fusiform goethite particles or the acicular or fusiform hematite particles obtd. by heating and calcining the goethite particles are reduced by heating at about 300 to 600°C by a reducing gas, by which the acicular or fusiform metallic powder composed mainly of the iron is obtd. These metallic particles are brought into contact with the polycyclic arom. compd. (naphthalene, etc.) in a solvent (toluene, etc.), by which the metallic particle surfaces are coated with the polycyclic arom. compd. After the solvent is removed at 80 to 120°C in a nonoxidizing atmosphere, the metallic particles are calcined by heating at 120 to 600°C and are coated with the polycyclic arom. compd. or the calcined matter thereof. The carbon content in the metallic powder is specified to about 3 to 15wt.% and is slowly oxidized. As a result, the metallic powder for magnetic recording having the major axis length of 0.05 to 0.2μm, the axial ratio of 2 to 10 and the saturation magnetization of ≥135emu/g is obtd.