A porous material suitable for use in a bearing rolling element. The porous material is obtained by a process which includes mixing degreased bran derived from rice bran with a thermosetting resin before kneading, subjecting a kneaded mixture to a primary firing in an inert gas at a temperature in a range of 700 to 100° C., pulverizing the kneaded mixture after the primary firing into carbonized powders sieved through a screen of 100-mesh, mixing the carbonized powders or the carbonized powders and ceramic powders with a thermosetting resin before kneading, pressure-forming a kneaded mixture thus obtained at a pressure in a range of 20 to 30 MPa, and applying a heat treatment again to a formed kneaded mixture in the inert gas at a temperature in a range of 100 to 1100° C.