Herein, a porous Fe–Al intermetallic material with ultrahigh open porosity is prepared via the multistep sintering process using a Fe–Al–Mn powder mixture as the raw material. The microstructure, phase composition, Mn sublimation, and open porosity of the sintered Fe–Al–Mn compacts are investigated. The compacts sintered at temperatures ≤700 °C are composed of the newly formed Fe/Mn‐based solid solutions, intermetallic phases, and the original elemental particles without the sublimation of Mn. The open porosities of the 650‐ and 700 °C‐sintered compacts are ≈39.83 and ≈47.19 vol%, respectively. After sintering at 1250 °C, Mn is rarely left in the porous body, and a single Fe–Al intermetallic phase with an even chemical composition is generated. The open porosity of the 1250 °C‐sintered compacts is ≈66.67 vol%, superior to other reported porous Fe–Al materials, and its strength is ≈22.5 MPa, which is competitive as well. This work may open a new strategy to design and optimize the high‐quality porous Fe–Al alloy in future.