A long-life bearing steel and a long-life rolling bearing made of the steel are disclosed. In the steel, the number of oxide or oxide-based inclusion particles in a given unit area A of 160 mm.sup.3 with an average particle size of 3 to 30 .mu.m is 80 or less and an abundance of oxide or oxide-base inclusion particles with 10 .mu.m or more average particle size to oxide or oxide-based inclusion particles having an average particle size of 3 to 30 .mu.m is below 2%. An electron beam melting extraction evaluation method irradiating electron beam under the following condition guarantees the cleanness of the steel: 350 V+100.ltoreq.J.ltoreq.700 V+200, wherein J represents electric charge power in W provided by electron beam and V represents a sample volume in cm.sup.3.