A method for producing a machine component having a radial crushing strength of 120 MPa or more, which comprises: a compression molding step for obtaining a powder compact 10 having a predetermined shape by compressing a starting material powder that is mainly composed of a metal powder capable of forming an oxide film, said metal powder having a pure iron powder content ratio of 95% by mass or more; and a film formation step for obtaining a reinforced powder compact 11, in which an oxide film 5 is formed between particles of the metal powder, by heating the powder compact 10 at a temperaturethat is less than the sintering temperature of the metal powder in an oxidizing gas atmosphere and having the metal powder react with the oxidizing gas.