Disclosed is a copper-lead based bearing material having excellent corrosion resistance, comprising a steel back metal and a bearing layer of a copper-lead based bearing alloy, the latter consisting essentially, by weight, 0.5 to 10% Bi, 0.5 to 8% Sn, 15 to 30% Pb, 2 to 10% Ni, not greater than 0.2% P, the balance Cu and incidental impurities.By adding Bi in a copper-lead based bearing alloy it becomes possible to obtain excellent corrosion resistance without impairing the conformability and seizure resistance of the bearing material in comparison with the conventional copper-lead based bearing alloys.