The thermal fatigue and wear properties of high speed steel roll which was recently developed were investigated by observing microstructure, by measuring mechanical and physical properties, by conducting thermal fatigue testing, and by measuring the amount of wear in actual mill. High speed steel roll had better thermal fatigue testing, and by measuring the amount of wear in actual mill. High speed steel roll had better thermal fatigue life than high chromium iron roll, which was due to lower carbide content, higher strength, and higher thermal conductivity. The amount of wear of high speed steel roll was nearly the same as that of high chromium iron roll in the first finishing stand, which was due to the oxide formation on the roll surface. However, in the third finishing stand, the wear resistance of high speed steel roll was 2~3 times as good as that of high chromium iron roll because the former had higher hardness at high temperature