The air cooling rate of the Low Carbon Mn-Si-Cr steel bar with different diameter after austenitizing at 910oC and 960oC was simulated by Formaster-F Phase transforming instrument and Gleeble-1500 thermal /mechanical simulating machine. Microstructure of the specimen was observed by OLYMPUS PME3 optical microscope and FEI QUANTA200F scanning electron microscope. The hardness and impact toughness of the steel was tested by HBRV-187.5 hardness tester and JCSJ300-I instrumented Charpy impact tester. The experimental result showed that with the amount of CFB in CFB+M mixed microstructure increasing the combination of strength and toughness of the steel was improved. The higher the austenitizing temperature of the steel, the wider the air-cooling rate range obtaining CFB+M mixed microstructure. However, the steel produces mixed grain after austenitizing at 960 oC. For obtaining fine prior austenite grain size, Ti and Nb alloying element need to be added.