Abstract: The invention is a high strength austenitic steel composition having increased strength and toughness characteristics, applicable for use in a seawater environment. The high strength austenitic steel may include nanometer-scale carbides, carbonitrides of vanadium, and carbides and carbonitrides having molybdenum, titanium, and niobium. The austenitic steel includes, 0.15-0.5 wt. % of carbon, 0-0.8 wt. % of silicon 6-14 wt. % of manganese, 9-13.5 wt. % of nickel, 0-3 wt. % of copper; 0.8-2.2 wt. % of vanadium, 0-4 wt. % of molybdenum, 0-4 wt. % of chromium; 0-0.9 wt. % of aluminum, 0-0.1 wt. % of calcium, 0-0.3 wt. % of titanium, 0-0.6 wt. % of niobium, 0-0.2 wt. % of tungsten, 0-0.2 wt. % of nitrogen, 0-0.1 wt. % of cerium, 0-0.1 wt. % of lanthanum, 0-0.05 wt. % of sulfur, and 0-0.05 wt. % of phosphorus.