A process for producing hydrogen storage metal alloys having a body-centered cubic structure-type main phase enabling the adsorption and desorption of hydrogen is provided which comprises the steps of: (1) melting a starting alloy brought to a predetermined element ratio to form a uniform heat (melting step), (2) keeping the homogenized alloy heat at a temperature within a range just below the melting point of the alloy for a predetermined time (heat treatment), and (3) rapidly cooling the alloy after the heat treatment (quenching step).