A valve seat made of an Fe-based sintered alloy excellent in wear resistance and having a reduced counterpart valve attack property is disclosed, which comprises a base comprising 15-40% by weight of Cu, 0.3-12% by weight of Ni and 0.0005-3.0% by weight of C, and further comprising 0.1-10% by weight of Co and 0.1-10% by weight of Cr when necessary, with the balance being Fe and inevitable impurities, the base having a structure which comprises an Fe-based alloy phase 1 composed of Fe as a main component combined by a Cu-based alloy phase 2 composed of Cu as a main component, wherein hard particles phase 3 having MHV of 500-1700 is dispersed in the base. The Fe-based alloy phase 1 is an Fe alloy phase which comprises Ni, Cu and C with Fe having more than 50% by weight, while the Cu-based alloy phase 2 is a Cu alloy phase which comprises Ni, Fe and C with Cu having more than 50% by weight. At the same time, the contents of Ni and C included in the Fe-based alloy phase are more than those of Ni and C included in the Cu-based alloy phase.