An object of this heat-resistant sintered material and a production method therefor is to obtain a heat-resistant sintered material having excellent oxidation resistance, high-temperature wear resistance and salt damage resistance. This heat-resistant sintered material has a composition containing, in mass % values, Cr: 25 to 50%, Ni: 2 to 25% and P: 0.2 to 1.2%, with the remainder being Fe and unavoidable impurities, and has a structure including an Fe—Cr matrix, and a hard phase composed of Cr—Fe alloy particles dispersed within the Fe—Cr matrix, wherein the Cr content of the Fe—Cr matrix is from 24 to 41 mass %, the Cr content of the hard phase is from 30 to 61 mass %, and the effective porosity is 2% or less.