Fine powders of intermetallic compound NiAl were produced through organometallic precursors. The precursors were precipitated as mixtures of Al(OH)_2(C_6H_5COO) and [Ni(N_2H_4)_2](C_6H_5COO)_2 in a water-methanol solvent. NiAl powders were synthesized by a three-step heat treatment of the precursors. A bulk NiAl was obtained by sintering of the powders. The pore density of sintered NiAl was less than 1.6 %. Compression tests were conducted at room temperature. The sintered NiAl exhibits excellent ductility compared with cast one. The cyclic oxidation tests revealed the good oxidation resistance of the sintered NiAl.