A hard metal as a new concept with a binder of FeAl intermetallic compound has been successfully fabricated via combustion synthesis reaction. The obtained FeAl-WC has had 1.5 times higher transverse rupture strength than the other studies. And it has revealed 7 times as good oxidation resistance as a commercial hard metal. Moreover, the control of Al content for FeAl-WC has made it possible to prepare both magnetic and nonmagnetic materials.