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Patent Granted PROBLEM TO BE SOLVED: To provide metallic magnetic powder high in saturation magnetization and excellent in soft magnetic characteristics. ; SOLUTION: The metallic magnetic powder is constituted of particles of 5-500 nm average grain sizes D<SB>M</SB>having a composition of Fe<SB>X</SB>M<SB>1-X</SB>(here: M is a transition element such Co or the like, X: 0.35-0.85), a coercive force Hc not larger than 400 Oe, the saturation magnetization [sigma]s not less than 120 emu/g, a remanence ratio [sigma]r/[sigma]s not higher than 0.20, and preferably weatherproofness [Delta][sigma]s not higher than 40%.