This paper describes the influence of heat treatment process on the microstructure and properties of a new martensitic stainless steel, which contains 0.7% carbon, 17% chromium and 1% molybdenum and can be used as kitchen knives and scissors. The microstructure and properties of the tested alloys after quenching at 980 - 1100 °C and low tempering were investigated by means of optical microscope (OM), scanning electron microscope (SEM), Rockwell hardness tester and impact tester. The results show that the microstructure consists of acicular martensite, carbides and a litter retained austenite after quenching and tempering. The carbides are mainly (Fe,Cr)23C6. The content of retained austenite increases with the increase of the quenching temperature. The solubility of carbon in martensite changes similarly. The martensite gets coarser as the quenching temperature increasing. The maximum value of hardness is 59 HRC, when the quenching temperature is 1060 °C. The impact toughness increases when the quenching temperature increases from 980 °C to 1080 °C and then decreases. The suitable heat treatment process for this alloy is quenching at 1060 °C~1080 °C for 30 min and then tempering at 200°C.