This composite roll comprises a steel roll shaft material, and an outer layer provided to the circumference of the roll shaft material. The outer layer includes a sintered compact containing: a matrix, which is an iron-based alloy; a fibrous inclusion composed of a ceramic and having an average thickness of 1 to 30 mum and an average aspect ratio of 10 to 500; and a particulate inclusion composed of a ceramic having an average particle diameter of 1 to 100 mum. The content of the fibrous inclusion is 5 to 40 vol% with respect to the sintered compact, and the content of the particulate inclusion is 5 to 30 vol% with respect to the sintered compact.