Microstructural characteristics and mechanical properties of the ductile iron in three heat treatment processes (normalizing, quenching + high‐temperature tempering and isothermal quenching) were investigated in this paper. The pearlite and ferrite with large‐sized spherical graphites can be obtained in the normalized sample, and the spherical graphites with relatively large size can still be observed in the mechanical mixture of tempered martensite and acicular ferrite for the quenched‐tempered sample. Meanwhile, the lower bainite accompanied with the relatively fine spherical graphites are existed in the isothermal‐quenched sample. The difference of tensile strength is mainly caused by the phase composition, distribution and size of the spherical graphites and the effect of the solid solution strengthening. The weaker degree of the debonding damage, higher proportion of high‐angle grain boundaries will improve the impact toughness of the ductile iron. In a word, the optimum combination of strength and toughness is acquired by using isothermal quenching, and the tensile strength and impact toughness are ~1350 MPa and ~10.62 J, respectively.