The invention relates to ferrous metallurgy, in particular to producing an alloy for reducing, doping and modifying steel. Said invention makes it possible to improve the quality of the steel treated with the inventive alloy owing to the deep reduction and modification of non-metallic impurities and the simultaneous microalloying of steel with barium, titanium and vanadium. Barium, titanium and vanadium are added into the inventive alloy, which contains aluminium, silicium, calcium, carbon and iron, with the following component ratio, in mass%: 45.0-63.0 silicium, 10.0-25.0 aluminium, 1.0-10.0 calcium, 1.0-10.0 barium, 0.3-0.5 vanadium, 1.0-10.0 titanium, 0.1-1.0 carbon, the rest being iron.