A sliding member includes a base material portion formed of steel; a nitrogen diffusion layer with a thickness of 10 μm to 50 μm; and a nitrogen compound layer with a thickness of 10 μm to 50 μm. The nitrogen compound layer and the nitrogen diffusion layer are formed by performing a first heating process of performing heat treatment on a material formed of steel in an ammonia atmosphere at a temperature of 570° C. to 660° C., a second heating process of performing heat treatment on the material in a non-oxidizing and non-ammonia atmosphere at a temperature of 660° C. to 690° C., the temperature in the second heating process being higher than the temperature in the first heating process, and an oil cooling process of performing oil cooling treatment at an oil temperature of 60° C. to 80° C. subsequently to the second heating process.