The effects of austenitizing temperatures and times and cooling rate on the characteristics of continuous air cooling have been investigated for 0.3%C-Mn steels microalloyed with vanadium. Transformation start temperatures have been found to be measured from temperature-time curve directly obtained with continuous air cooling and to decrease with increasing austenitizing temperature, cooling rate and Mn contents. The coarsening behavior of austenite grain size has been measured to abnormally grow at $1050^{circ}C$ and rapidly grow at $1200^{circ}C$. It has been found that the volume fraction of pearlite was linealy proportional to the reciprocal square root of austenite grain size. The hardness has been measured to increase with increasing cooling rate up to $250^{circ}C/min.$ and to remain relatively unchanged in the range of $250{sim}400^{circ}C/min.$ showing that hardness valves for steel with a higher Mn content increase more than those for steel with a lower Mn content. The impact property has been found to decrease with increasing of austenite grain size but does not linealy change with the reciprocal square root of austenite grain size.