The tensile and impact deformation behavior of three different Mn content test steels, xMn-1.0C-0.25V-1.5Cr-0.3Mo (5, 8 and 13 wt%), were investigated using mechanical properties testing, SEM-EBSD and TEM. The elongation and −20 °C impact energy of the three types of Mn content test steels increased as the Mn content increased. The room temperature tensile elongation was 9%, 23% and 81%, and the −20 °C impact energy was 9 J, 99 J and 241 J, respectively. The fracture morphologies of 5 Mn and 8 Mn were found to be cleavage fractures with secondary cracks and micro-voids. The 13 Mn fracture morphology was a plastic fracture with many coarse dimples. Transverse cracks perpendicular to the tensile direction occurred on the surface of the gauge area of 5 Mn and 8 Mn tensile specimens, reducing plasticity dramatically. This was mainly related to the martensitic transformation produced by stress. We characterized the martensite near the tensile fracture and speculated the main mode of crack propagation. Furthermore, a little amount of sharp-shaped BCC phase was found in the 5 Mn, which was determined to be a hard phase relative to the austenite matrix by nanoindentation test. These steels have stacking fault energies ranging from ~15 to ~29 mJ/m2 with increasing Mn content 13 Mn has high stacking fault energy (SFE) and austenite stability. Twin-induced plasticity (TWIP) was the deformation mechanism.