Recently developed austempered ductile irons(A.D.I.) have good mechanical properties. However it is still needed to examine the relationships between microstructures related to banitic reaction and the mechanical properties. From the mechanical tests such as impact test, hardness test, tensile test, and the microstructure observations, we concluded that the good mechanical properties of A.D.I. came from the fine banitic ferrite structure formed during the first stage of the austempering reaction.