Disclosed is a sliding member having a bearing alloy layer, an intermediate layer of Ni or a Ni alloy formed on the bearing alloy layer, and an overlay layer of a Sn alloy containing Cu formed on the intermediate layer. There exist Sn--Cu compounds in the overlay layer, which protrudently extend from the intermediate layer. The hard Sn--Cu compounds contribute to the overlay layer in improving fatigue resistance property. A soft Sn matrix being rich in an outer surface region of the overlay layer is responsible for keeping good conformability to have excellent anti-seizure property.