Disclosed herein is a sliding member having an alloy overlay layer that comes into sliding contact with a counterpart member thereof and has improved fatigue resistance. The sliding member comprises a base material layer and an alloy overlay layer formed on the base material layer, in which the alloy overlay layer has a soft metal phase made of tin and precipitated in a metallic matrix phase made of aluminum, and when an average aspect ratio of the soft metal phase is defined as A, and its standard deviation is defined as Aσ, A+Aσ is 3.0 or less. In this case, the soft metal phase has a shape close to a sphere without elongating in a certain direction.