The thermoelectric material is represented by the following composition formula of (Tia1Zrb1Hfc1)xAyB100-x-y, in which element A is at least one element selected from the group consisting of Ni and Co, element B is at least one element selected from the group consisting of Sn and Sb, 0<=a1<=1, 0<=b1<=1, 0<=c1<=1, and a1+b1+c1=1 hold, and 30<=x<=35 and 30<=y<=35 hold, and the thermoelectric material comprises a phase having an MgAgAs type crystal structure as a major phase. In this thermoelectric material, the density of the thermoelectric material is more than 99.0% of the true density. When this thermoelectric material is used for either one or both of p-type elements and n-type elements, a thermoelectric conversion device having high thermoelectric conversion performance is realized.