This work was focused on the compressive deformation behavior of 42CrMo steel at temperatures from 1123K to 1348K and strain rates from 0.01s-1 to 10s-1 on a Gleeble-1500 thermo-simulation machine. The true stress-strain curves tested exhibit peak stresses at small strains, after them the flow stresses decrease monotonically until high strains, showing a dynamic flow softening. And the stress level decreases with increasing deformation temperature and decreasing strain rate. The values of strain hardening exponent n, and the strain rate sensitivity exponent m were calculated the method of multiple linear regression, the results show that the two material parameters are not constants, but changes with temperature and strain rate. Then the two variable material parameters were introduced into Fields-Backofen equation amended. Thus the constitutive mechanical discription of 42CrMo steel which can accurately describe the relationships among flow stress, temperature, strain rate, strain offers the basic model for plastic forming process simulation.