The effect of$H_{2}/N_{2}$gas sintering atmosphere on the carbon content and mechanical properties during the metal injection molding process of carbonyl iron-nickel powder was studied. The carbon content of the specimen after debinding in the pure$N_{2}$atmosphere appeared 0.78 wt%. After showing the maximum value of 1.48 wt.% in the debinding atmosphere of 10%$H_{2}/N_{2}$gas mixture, the carbon content of the debinded specimen decreased gradually with increasing the$H_2$content in the$H_{2}/N_{2}$gas mixture. The carbon contents of the sintered specimen were 0.46~0.63wt% in Na gas atmosphere, while they appeared extremely low above 40%$H_{2}/N_{2}$gas atmosphere. The relative sintered density increased abruptly from 88~90% to 93~96% with the addition of Ni, while the density nearly unchanged above 2% Ni addition. The sintered density increased with increasing the fraction of$H_{2} in H_{2}/N_{2}$gas mixture. Tensile strength and hardness increased, and elongation decreased with increasing carbon and Ni content. In spite of high carbon content of 0.63 wt%, the superior elongation value of 10% was shown.