To provide niobium powder which is suitable for making an electrolytic capacitor small in size and high in capacity, contains primary particles which are very small in diameter, and is low in oxygen content; and to provide its manufacturing method.

Material powder is heated up while separated from a reducing agent, the reducing agent is turned into vapor, the reducing agent vapor is brought into contact with the material powder so as to restrain heat generated by a reducing reaction, the material powder is reduced until the material powder is turned to NbOx (wherein, x=0.06 to 0.35), an intermediate product is obtained, the oxide of the reducing agent is removed, then an alkali/alkaline earth metal melt is prepared so as to be 1.0 to 1.5 mol equivalent to the residual oxygen content of the intermediate product, and the melt and the intermediate product are brought into direct contact with each other to cause a reducing reaction for obtaining niobium powder, The niobium powder is introduced into a hydrochloric acid solution of a normal solution to generate hydrogen gas, and the niobium powder is made to occlude hydrogen.