Abstract: The influences of ferrite content on the strength and magnetic properties of austenitic stainless steel CF-3M were investigated. The results showed that the strength and magnetic properties of the steel could be adjusted by the content of ferrite in the steel. As the increase of the equivalent rate of chromium to nickel, the ferrite content, the strength and the increase rate of magnetic rate of the steel will increase, but the proper content of the ferrite in the steel should be less than 7%, that is the equivalent rate of chromium to nickel should be less than 1.02.