An iron-based sintered alloy of the present invention is an iron-based sintered alloy, which is completed by sintering a powder compact made by press forming a raw material powder composed of Fe mainly, and is such that: when the entirety is taken as 100% by mass, carbon is 0.1-1.0% by mass; Mn is 0.01-1.5% by mass; the sum of the Mn and Si is 0.02-3.5% by mass; and the major balance is Fe. It was found out that, by means of an adequate amount of Mn and Si, iron-based sintered alloys are strengthened and additionally a good dimensional stability is demonstrated. As a result, it is possible to suppress or obsolete the employment of Cu or Ni, which has been believed to be essential virtually, the recyclability of iron-based sintered alloys can be enhanced, and further their cost reduction can be intended.