A martensitic heat-resisting steel comprises, in terms of % by mass, 0.01 to 0.30% of C, 0.02 of 0.80% of Si, 0.20 to 1.00% of Mn, 5.00 to 18.00% of Cr, 0.005 to 1.00% of Mo, 0.20 to 3.50% of W, 0.02 to 1.00% of V, 0.01 to 0.50% of Nb, 0.01 to 0.25% of N, and at least one element selected from the group consisting of Ti, Zr, Ta and Hf in an amount of 0.005 to 2.0% for each of the elements, the volume of (Ti %+Zr %+Ta %+Hf %) in the metal component M of M.sub.23 C.sub.6 type carbides therein being from 5 to 65%. The heat-resisting steel is produced by a process comprising the steps ofadding Ti, Zr, Ta and Hf to a molten steel having chemical components as mentioned above, during the period from 10 minutes before completion of refining to completion of refining, casting said molten steel, working the resulting casting, solution treating said worked product, subjecting said worked product to temporary cooling stop at a temperature from 950.degree. to 1,000.degree. C. in the course of cooling said hot worked product, and holding said worked product at the temperature for 5 to 60 minutes. The heat-resisting steel is excellent in HAZ-softening resistance, and exhibits a high creep strength at high temperature of at least 550.degree. C.