To provide a method through which ferrite powder for small-sized magnetic element which can be calcined in a short time at a low temperature and has high sintered density, even if the powder is baked at a low temperature of ≤900°C and the iron composition of which fluctuates (varies) little can be manufactured.

This ferrite powder is manufactured by mixing Fe3O4, which is obtained by a wet method through heat-oxidizing of an iron hydroxide obtained through neutralization of an iron salt solution with an alkaline solution, has a specific surface area of 12-35 m2/g, and contains FeO in an amount of ≥22 mass%, with a metal oxide, such as NiO, etc., calcining the mixture, and pulverizing the calcined mixture.