The object of the present invention is to provide a compact for producing a sintered alloy which allows a sintered alloy obtained by sintering the compact to have improved mechanical strength and wear resistance, a wear-resistant iron-based sintered alloy, and a method for producing the same. The wear-resistant iron-based sintered alloy is produced by: forming a compact for producing a sintered alloy from a powder mixture containing a hard powder, a graphite powder, and an iron-based powder by powder compacting; and sintering the compact for producing a sintered alloy while diffusing C in the graphite powder of the compact for producing a sintered alloy in hard particles that constitute the hard powder. The hard particles contain 10% to 50% by mass of Mo, 3% to 20% by mass of Cr, and 2% to 15% by mass of Mn, with the balance made up of incidental impurities and Fe, and the hard powder and the graphite powder contained in the powder mixture account for 5% to 60% by mass and 0.5% to 2.0% by mass of the total amount of the hard powder, the graphite powder, and the iron-based powder, respectively.