A new high strength stainless steel (MCRS; M__-itsubishi C__-orrosion R__-esistance S__-teel), which can replace the conventional copper alloys, has been developed to improve propulsive efficiency of marine propeller. This steel has superior characteristics of corrosion fatigue strength and erosion resitance to those of nickel aluminum bronze which is the popular material for marine propeller. This paper shows characteristics of MCRS, production engineering of marine propeller made of MCRS, and improvement of propeller efficiency which will be expected by use of MCRS.