A pulley that satisfies the requirements of enhancement of friction coefficient and maintenance of abrasion resistance for belt CVT. There is provided a pulley of continuously variable transmission for transmitting of power between pulley and element, which pulley is one consisting of a steel containing a specified amount of Mn wherein the surface of the steel has a surface hardening layer of either a nitride layer or carbonitride layer containing a specified amount of Mn. The surface hardening layer has the properties of stably realizing a friction coefficient of 0.115 or higher over that of current material SCr420 and, with respect to abrasion resistance, maintaining substantially the same level or achieving improvement thereof.