An objective of the present invention is to provide a mixed powder for powder metallurgy that makes it possible to improve mold-filling ability and reduce spread in weight of molded bodies. The mixed powder for powder metallurgy according to the present invention is obtained by mixing a graphite powder with an average particle diameter D50 of 1.0 μm or more to 3.0 μm or less and D90 of 10 μm or less, without adding a binder, with an iron-based powder, while applying a sheer force. The thus obtained mixed powder for powder metallurgy according to the present invention is characterized by including the iron-based powder and the graphite powder present so as to be collected in concave portions of the iron-based powder.