The 316LVM stainless steel that is widely used in surgical implant has been studied. The objective of this study is to develop the domestic production of the surgical implant materials. In the work, the metalllirgical phenomena, physical and chemical properties and biocompatibility of the materials are investigated. According to the experimental observation, corrosion resistance is strongly depended on the -ferrite structure and passive film, and mechanical properties are mainly depended on the cold reduction ratio. The -ferrite structure is minimized in the 16.651 Cr and 14%Ni contents, and yield strength is 104 kg/mm$^2$ at 45% cold reduction. Biocompatibility is excellent in the mouse body test for six weeks.