For the hard phase forming alloy powder for forming the hard phase is dispersed in the sintered alloy , composition , by mass , Mo: 15 ~ 35%, Si: 1 ~ 10%, Cr: 10 to 40% and the balance of the hard phase forming alloy powder , characterized in that said Co and inevitable impurities . The powder for forming the base , wherein the hard phase forming alloy powder : 15 to 45% and the graphite powder : by the addition of 0.5% to 1.5% , by forming a compressed metal powder mixed with the raw material powder into a desired shape , sintering the resultant formed body to the method for producing a wear-resistant sintered alloy according to claim . Further , the composition , Mo: 15 ~ 35%, Si: 1 ~ 10%, Cr: 10 ~ 40% , and the balance of Co and inevitable impurities, the hard phase is indicated as having a metal structure that is dispersed in a base of 15-45% the sintered alloy with a wear-resistant .
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