A hydrogen storage alloy of Ni, Zr, Mn, Ti and at least one other element and at least two phases including a phase which contains at least one kind of Laves structure intermetallic compound, in which when atomic ratios of Ni, Zr, Mn and Ti are "a", "b", "c" and "d", respectively, "a" is larger than "b", "b" is larger than "c", "c" is larger than "d", and "d" is larger than the atomic ratio of at least one other element, and a ratio b/a is larger than 5/8, a ratio c/a is smaller than 11/20 and a ratio d/a is smaller than 2/5, which alloy is useful as an active material of a negative electrode of a hydrogen storage alloy cell.