A hydrogen absorbing alloy electrode is provided which is improved in hydrogen gas absorbing ability and in low-temperature discharge characteristics. The electrode contains a hydrogen absorbing alloy having a crystal structure of the CaCu5 type and represented by the stoichiometric ratio ABx, the hydrogen absorbing alloy being represented by MmNiaCobAlcMd wherein Mm is a misch metal, M is Mn and/or Cu, the atomic ratios a, b, c and d are in the respective ranges of 3.0.ltoreq.a.ltoreq.5.2, 0.ltoreq.b.ltoreq.1.2, 0.1.ltoreq.c.ltoreq.0.9, 0.1.ltoreq.d.ltoreq.0.8, wherein X is the sum of the atomic ratios a, b, c, and d, such that, X=a+b+c+d and, is in the range of 4.4.ltoreq.X.ltoreq.5.4. More specifically, the electrode contains a hydrogen absorbing alloy powder at least 5.0 in X, and a hydrogen absorbing alloy powder less than 5.0 in X.