To provide sintered alloy which is easily formed with a dynamic pressure generation groove and suppresses wear of a sliding surface, and a method for manufacturing the same.

Sintered alloy body is formed by molding raw material powder, and performing sintering (S3) thereof. Sizing (S5) after steaming (S4) is performed on a surface of the sintered alloy body, and a dynamic pressure generation groove is formed by transfer on the surface subjected to the steaming (S4). Since the sizing (S5) is performed on the sintered alloy body having a steamed layer, the dimension of a product including the steamed layer can be finished within a predetermined dimensional tolerance.