The microstructures of B-bearing cast steel containing 0.8-1.2 wt.%B, 0.8-1.2 wt.%Cr, 1.0-1.5 wt.%Mn, 0.6-1.0 wt.%Si and 0.10-0.25 wt.%C have been characterized by means of optical OM, SEM, EPMA and XRD. The solidification structure of B-steel consists of pearlite, ferrite, martensite and boride (Fe2B), while the hardness is 1430-1480 HV. Borides distribute along the grain boundary in the form of eutectic. Fine lath martensite and eutectic Fe2B can be obtained by water quenching at 1223 K-1273 K. The hardness and impact toughness of the B-steel exceed 55 HRC and 150 kJ/m2, respectively. The abrasion resistance determined using a pin abrasion tester is obviously higher than that of the martensitic cast steel and nears to the high chromium white cast iron.