The sputtering target made of a Ag—Bi-base alloy contains Bi in solid solution with Ag. The sputtering target has an intensity of precipitated Bi of 0.01 at %−1 or less, as calculated by the following mathematical expression (1) based on analysis results of X-ray diffraction, and/or a sum of area ratios of predetermined intensities (third to sixth intensities in 8 intensities) of 89% or more, wherein the area ratios are obtained by calculating a planar distribution of characteristic X-ray intensities of Bi according to X-ray microanalysis: intensity of precipitated Bi=[IBi(102)/IAg(111)+IAg(200)+IAg(220)+IAg(311))]/[Bi]. Remarkable lowering of the yield of Bi content in resultant films can be suppressed by using the sputtering target.