Abstract: A case carburizable stainless steel alloy intended to be used at operating temperatures up to 700.degree. F. The alloy is able to achieve and maintain a high surface hardness when carburized and heat treated and combines high fracture toughness, hot hardness, metal-to-metal wear resistance and corrosion resistance while retaining core ductility and strength. The alloy consists essentially of (in weight percent) 0.1 to 0.25% carbon, 0 to 1% silicon, 0 to 1% manganese, 13 to 19% chromium, 1.75 to 5.25% nickel, 3 to 5% molybdenum, 0.25 to 1.25% vanadium, 5 to 14% cobalt, 0.01 to 0.1% niobium; 0 to 0.02% boron; and the balance iron and incidental impurities. The alloy is particularly suited for use in bearing applications and also in cams, shafts, gears, bolts and like articles exposed to elevated temperatures and corrosive atmospheres.