Abstract: A secondary hardening alloy steel composition consisting essentially of about 0.25-0.5% carbon, about 0.5-1.0% manganese, about 1.5-3.0% nickel, about 0-1.0% chromium, about 1.75-2.5% molybdenum, about 0-0.4% vanadium, and an additive selected from about 1-3% aluminum and a combination of at least about 1% aluminum and at least about 1% silicon for a combined Al+Si content of about 2-4%, the balance being iron and impurity elements. The present steel composition has the following characteristics: it exhibits a flat tempering response, it is hardenable upon tempering to a Rockwell C hardness of at least 50, and it has an improved combination of hardness vs. toughness properties after tempering in the secondary hardening range. A method of preparation is also described.