Medical implantable stainless steels are widely used in medical field due to their excellent properties, besides its allergic response to human body, the nickel ion released from the steels due to corrosion has the harm of malformation and carcingenesis. The mechanical property, corrosion resistance and blood compatibility of a new nickel-free stainless steel (BIOSSN4) is researched in this paper. Compared with the traditional 316L medical stainless steel, BIOSSN4 shows wide future applications because of its better combination of strength and toughness, good corrosion resistance and biocompatibility.