Microstructure and mechanical properties of HT9 and HT9M steels for liquid metal reactor(LMR) core materials have been investigated. The tempering temperature at which cell structure was formed by rearrangement of dislocations was same in two steels. More carbides were precipitated in HT9 steel due to high carbon content and precipitation of carbides was delayed in HT9M steel. Thus the decrease of hardness with tempering temperature in HT9M steel was lower than that of HT9 steel. The yield strength was decreased, the fine prior austenite grain was formed, and the formation of δ-ferrite was restricted in HT9M steel by decreasing the Cr and carbon content and increasing the Nb content. Thus the impact property of HT9M steel was improved.