A method of manufacturing niobium and/or tantalum powder consisting of: a first-stage reduction process of reducing niobium and/or tantalum oxides with alkali metals and/or alkaline-earth metals to obtain low-grade oxide powder represented by (NbTa) Ox, where x=0.06 to 0.35, a process of removing the oxide of alkali metals and/or alkaline-earth metals generated in the first-stage reduction process, and a second-stage reduction process of reducing the low-grade oxide powder obtained in the first-stage reduction process, with a melt solution of alkali metals and alkaline-earth metals to obtain niobium and/or tantalum powder.