A method for producing soft magnetic metal powder includes: a raw material powder preparing step of preparing metal raw material powder having metal raw material particles including iron, silicon, and boron; a mixture step of mixing the metal raw material powder and a carbon source substance and obtaining mixed powder; and a heat treatment step of performing heat treatment on the mixed powder in a non-oxidizing atmosphere containing nitrogen at a heat treatment temperature of 1,250° C. or higher and making the metal raw material particles spherical.