An advanced, high chromium, creep-resistant steel was subjected to the tensile tests and three-point bending tests of Charpy V-notch specimens at temperatures of −196 to 20 °C. The steel exhibited ductile fracture under tension tests at all of the temperatures studied. The mechanical properties, i.e., strength and uniform elongation, were enhanced with a decrease in temperature down to −140 °C. Transgranular, dimpled fracture remained the primary fracture mechanism under tension. On the other hand, the results obtained with Charpy V-notch specimens suggested the ductile–brittle transition (DBT). Full embrittlement was observed at temperatures of −60 °C and −150 °C upon impact tests and three-point bending tests, respectively, when the unstable crack started to propagate without remarkable plastic deformation. The DBT temperature of −27 °C for the present steel corresponded to the 28 J impact transition temperature, T28J, when the maximum impact stress matched the maximal true tensile stress.