A soft magnetic compact which is produced by using soft magnetic composite powder in which the surface of magnetic powder is covered with an electrical insulating material containing at least an inorganic insulating material, and a resin material is fusion-bonded to the surface of the inorganic insulating material so as to partially cover the surface of the soft magnetic powder. Accordingly, it is possible to ensure an electrical insulating property between pieces of soft magnetic material powder to secure a good magnetic characteristics and to easily mold a compact.