A high temperature wear resistant sintered alloy suitable for the material of a valve seat in an automotive vehicle engine. The matrix of the sintered alloy consists essentially of carbon ranging from 0.45 to 1.15% by weight, nickel ranging from 5.4 to 27% by weight, molybdenum ranging form 0.4 to 2.7% by weight, cobalt ranging from 4.2 to 7.2% by weight and balance being substantially iron. The matrix is formed of a mixture of at least one of sorbite structure and bainite structure and austenite structure. Furthermore, the matrix includes hard phase dispersed therein and containing at least silicon, molybdenum and cobalt. The sintered alloy of such a structure can exhibit high strength and wear resistance at high temperatures regardless of type of engine and kind of fuel in case of being used as the material of the valve seat, while maintaining production cost thereof lower.