The relationships between Young's modulus, shear modulus and Poisson's ratio of sintered materials and porosity were investigated for use as practical P/M machine parts. Three types of steel powders were prepared and then compacted, sintered, and heat-treated under various conditions. Porosity had the greatest influence on Young's modulus, shear modulus, and Poisson's ratio. Especially, Poisson's ratio was affected by the pore shape, which depended on the type of powder, sintering temperature and atmosphere, and heat treatment.