Ferrous metallurgy for producing an alloy for reducing, doping and modifying steel is disclosed. The quality of the steel treated with the inventive alloy is improved owing to the deep reduction and modification of non-metallic impurities and the simultaneous microalloying of steel with barium, titanium and vanadium. Barium, titanium and vanadium are added into the inventive alloy, which contains aluminum, silicon, calcium, carbon and iron, with the following component ratio, in mass %: 45.0-63.0 silicon, 10.0-25.0 aluminum, 1.0-10.0 calcium, 1.0-10.0 barium, 0.3-5.0 vanadium, 1.0-10.0 titanium, 0.1-1.0 carbon, the rest being iron.