Newly Fe-1.5mass%Sn-0.14mass%P-1.5mass%Mo sintered alloy has been developed for soft magnetic parts. Brittleness of Fe-1.5mass%Sn-0.14mass%P sintered alloy was improved by the addition of molybdenum more than 1.0 mass%. The alloy was produced by highly productive 1P1S process, which means one time pressing and one time sintering, in condition of compacting pressure 600 MPa and sintering temperature 1473 K. The alloy shows magnetic induction (B1k) of 1.5 T at magnetic field 1 kA/m, coercive force (Hc) of 67 A/m, maximum permeability (μm) of 5.7 mH/m. These values are superior to those of a pure iron produced by costly 2P2S process composed of re-pressing and re-sintering in addition to compacting and sintering. The Fe-Sn-P-Mo sintered alloy has been applied for the magnetic yoke of a voice coil motor because of its good magnetic properties and high productivity.