There is provided a method for producing oxide dispersion strengthened ferritic steel tube by fabricating a raw tube by mixed sintering of a metal powder and an oxide powder and producing a tube of the desired shape by repeating cold rolling and heat treatment for a total of three times or more. The method comprises performing each of the intermediate heat treatments during the cold rolling by a two-step heat treatment consisting of a first step heat treatment of 1100.degree. C. or lower and a second step heat treatment of 1100 to 1250.degree. C. and higher than the first step temperature, and performing the final heat treatment at 1100.degree. C. or higher.