Abstract: A high-strength and high-ductility steel sheet having a composition including, by weight, 1.0 to 1.4% C, 5.0 to 9.0% Mn, 2.0 to 8.0% Cr and the balance Fe, and unavoidable impurities. The steel sheet has an austenite structure formed at room temperature, and stacking fault energy is effectively controlled by the addition of Cr and N2. Mechanical twins are formed during the plastic deformation of the steel, thereby leading to high levels of work hardening, tensile strength and workability.