Abstract: A high-strength, tough alloy steel is formed by heating an alloy steel comprising iron, 0.1-0.4 weight % carbon, 1-3 weight % manganese and 1-13 weight % chromium and optionally containing microalloying amounts of other metals to about 1150.degree. C. to form a stable homogeneous austenite phase, control rolling the steel at about 900.degree. C.-1100.degree. C., followed by rapid cooling to 950.degree. C. and again rolling at that temperature and then quenching the thusly rolled steel in liquid or by air cooling. Tempering at temperatures up to about 300.degree. C. may be effected to further increase the toughness of the steel.