The present invention relates to a flux-cored wire which can be used for straight-polarity gas-shielded arc welding, wherein a flux contains one or several types of metal compound powders and, when one or several metal elements constituting the metal compound powders are formed into stable compounds under a high-temperature environment, the relationship between the weighted geometric mean value (Φ) of the work functions of the stable compounds and the wire diameter (D) of the flux-cored wire satisfies the following formula: {1.00≤Φ≤−0.0908D2+0.5473D+1.547}.