To produce stainless steel powder high in apparent density, furthermore good in fluidity and high in green density as well in stainless steel powder produced by a water spraying method.

This steel powder has a size distribution in which the ratio of coase powder of +100 mesh is regulated, by weight, to 0.2 to 10% and the ratio of fine powder of -350 mesh is regulated to 25 to 35%, and as for the balance, it is regulated to the range of 10 to 25% in each region of -100 to +145 mesh, -145 to +200 mesh, -200 to +250 mesh and -250 to +350 mesh. The powder can be obtd. by thickening the size of the flow of molten metal and moreover increasing the pressure of spraying water at the time of water spraying.