This invention adds elements such as Cu, B, Cr, Ca, V, etc., to a low carbon-high Mn--Ni--Mo-trace Ti type steel, and allows the steel to have a tempered martensite/bainite mixed structure containing at least 60% of tempered martensite transformed from un-recrystallized austenite having a mean austenite grain size (d.gamma.) of not greater than 10 .mu.m as a micro-structure, or a tempered martensite structure containing at least 90% of martensite transformed from un-recrystallized austenite. The present invention further stipulates a P value to the range of 1.9 to 4.0 and thus provides a ultra-high strength steel having a tensile strength of at least 950 MPa (not lower than 100 of the API standard) and excellent in low temperature toughness, HAZ toughness and field weldability in cold districts.