A valve lifter has a cylindrical lifter body portion made of an alloy tool steel which body portion extends in the axial direction of the valve lifter, and a head portion made of the alloy tool steel and formed integrally with the body portion which head portion extends at a right angle to the axis. The head portion has an outer surface constituting a cam-contact surface provided with a coating layer, and an inner surface constituting a valve-pressing portion provided with a valve-pressing protrusion. The head portion has a macrostructure of plastic flow oriented in a direction perpendicular to the above-mentioned axis. Disclosed also is a method for producing this valve lifter.