PURPOSE: To produce a cermet free from dispersion in hardness and having sufficient toughness.

CONSTITUTION: At the time of producing respective cermets of the types of Fe-Al2O3, Ni.Cr-Al2O3, Ni-ZrO2, W-NbC, Co-WC, stellite-TiC, 'Hastelloy(R)'-NbC, W-Ni-NbC, Ni-ZrO2, Ti-TiC, Ti-TiB2, Cu-WC, and Cu-ZrO2, a metal or alloy powder and a ceramic powder are blended and regulated. The resultant powder mixture is mixed and agitated by using a mixer-agitator, pelletized by using a press pelletizer, and further subjected to sintering, crushing, and classification. The resultant pelletized powder is used as melting material and rapidly melted and solidified in a PPC furnace, by which a molten deposit is formed. This deposit is subjected to stamp mill crushing under an Ar atmosphere and to classification, and the resultant composite powder is packed in an HIP can and subjected to HIP. As to HIP conditions, the temp. is regulated to that not higher than the liquidus temp. of the metal. Microscopically, the interface between the metal and ceramics produces good wettability and these are uniformly dispersed. As a result, the cermet free from dispersion in hardness and having high toughness can be obtained.