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Provided are a Ni-based alloy for a hot die, and a hot-forging die using this Ni-based alloy, the Ni-based alloy having high high-temperature compressive strength, oxidation resistance, and tensile strength, and capable of achieving high productivity and a long die service life. This Ni-based alloy for a hot die comprises, by mass%, 12.0-16.0% of W, 1.0-5.0% of Mo, 5.0-7.5% of Al, 0.5-5.0% of Cr, 0.5-7.0% of Ta, 0.1-3.5% of Ti, 0.01-0.25% of C, 0.0005-0.01% of N, 0.05% or less of B, 0.015% or less of S, a total of 0-0.020% of one or more elements selected from the rare-earth elements Y, Ca, and Mg, a total of 1.5% or less of one or more elements selected from Zr and Hf, 3.5% or less of Nb, 15.0% or less of Co, with the remainder being Ni and unavoidable impurities, and C and N satisfying relational expression 1. [Relational expression 1] C/100≤N≤C (where C and N signify the content of each component in mass%).