FIELD: process for making powder of stainless steel with low content of oxygen and, preferably having no carbon. SUBSTANCE: method comprises steps of making melt stainless steel containing iron and carbon and at least 10% of chrome; controlling content of carbon in melt to value determined according to proposed carbon content after water atomization of melt; water atomizing of melt and annealing water atomized powder at temperature no less than 1120 C in reduction atmosphere containing controlled quantity of water. Invention also refers to water atomized powder containing 10 mas.% of chrome, carbon in range 0.2-0.7 mas.%, preferably 0.4 - 0.6 mas.% at mass relation oxygen/carbon approximately equal to 1 - 3, no more than 5% of impurities and to annealed powder prepared according to claimed method. EFFECT: powder with higher purity degree, with enhanced mechanical and physical properties produced at lowered electric energy consumption. 12 cl, 5 tbl
