In order to develop a low alloy heat resistant steel which has a higher creep-rupture strength than that of 2 one quarter Cr-1Mo steel, the effects of cooling rates at quenching (1400 degree C/h-300 degree C/h) and thermal cycle on the high temperature strength of 1Cr-1Mo- one quarter V steel have been investigated. The high temperature strength of the welded joint has also been investigated. It was found that this steel is unsuitable. To improve the hardenability and high temperature strength and the effects of increase in the content of C, Cr and Mn, and Ni or B addition on the microstructure and high temperature strength of this steel have been investigated. Experimental results show that 1Cr-1Mo- one quarter V steel with 0. 003 wt% B has a favorable structure (all bainite) and high temperature strength even at a cooling rate as low as 300 degree C/h.