A cobalt-base alloy comprises 0.2-1 wt % C 0.4-2 wt % Si, 0.2-1.5 wt % Mn, 5-15 wt % Ni, 20-35 wt % Cr, 3-15 wt % W, 0.003-0.1 wt % Ni, 20-35 wt % Cr, 3-15 wt % W, 0.003-0.1 wt % B, 0.05-1 wt % Nb, 0.01-1 wt % Ta, 2 wt % or less Fe, 30 ppm or less oxygen, 100 ppm or less nitrogen, and the balance of 45 wt % or more Co, wherein the content of Si is larger than that of Mn. The alloy is in a form of casting and has a structure containing a eutectic carbide and a secondary carbide dispersed therein. The cast alloy is produced through solution treatment at 1,100.degree.-1.200.degree. C., and aging treatment at 950.degree.-1,050.degree. C., and cooling rate after the solution treatment and after the aging treatment is 150.degree. to 300.degree. C./h. A gas turbine nozzle is made of a casting of the above-mentioned alloy.