A flat soft magnetic metal powder is provided that includes: Ni in the range of 60 to 90 mass %, one or more kinds of Nb, V, and Ta in the range of 0.05 to 20 mass % in total (0.05 to 19.95 mass % when Mo is added thereto), Mo in the range of 0.05 to 10 mass % if necessary, one or two kinds of Al and Mn in the range of 0.01 to 1 mass % in total if necessary, and the balance including Fe; an average grain size of 30 to 150 .mu.m and an aspect ratio (average grain size/average thickness) of 5 to 500; and a flat face. Here, with a peak intensity of a face index (220) in an X-ray diffraction pattern I.sub.220 and a peak intensity of a face index (111) I.sub.111, a peak intensity ratio I.sub.220/I.sub.111 is in the range of 0.1 to 10.