A high-chromium and high-phosphorus ferritic stainless steel excellent in weatherproofness and rustproofness, which contains 0.02 percent (by weight, the same applies hereinbelow) or less of carbon, 1.0 percent or less of silicon, 1.0 percent or less of manganese, 0.03 percent or less of sulfur, from more than 20 percent to 40 percent of chromium, 0.015 percent or less of nitrogen, 0.5 percent or less of aluminum, from more than 0.06 percent to 0.20 percent of phosphorus, and the balance comprising iron and unavoidable impurities. The steel may further contain at least one of the following groups (1 to 3): (1) 4.0 percent or less of molybdenum, (2) at least one element selected from among 1.0 percent or less of titanium, 1.0 percent or less of niobium, 1.0 percent or less of tantalum, 1.0 percent or less of vanadium, 1.0 percent or less of tungsten, 1.0 percent or less of zirconium, and 0.01 percent or less of boron, and (3) at least one element selected from among 1.0 percent or less of copper, 5.0 percent or less of nickel and 1.0 percent or less of cobalt.