A nano-composite high strength (NCHS) steel was tested and evaluated in this work. Monotonic tension, strain controlled fatigue and fracture toughness tests were conducted at ambient temperature. Chemical composition, microstructure and fractography analysis were also performed. The NCHS steel showed excellent combination of high strength, high ductility and high fracture toughness with relatively low alloy content, compared with a S7 tool steel. Fatigue performance of the NCHS steel was also better than that of S7 tool steel. With the exceptional combination of high strength and high fracture toughness, the nano-composite high strength steel may have potential applications in gears, shafts, tools and dies where high fatigue performance, shock load resistance, wear and corrosion resistance is required.