The paper presents a failure analysis of tower axle in the water tank wire drawing machine. Material of the tower axle is 40Cr steel. In order to analyze the failure reasons of tower axle in the water tank wire drawing machine, we take experimental means such as morphological analysis, mechanical property testing, micro-metallography and scanning electron microscopy (SEM) of fracture observation, etc. The results show that the fracture of tower axle belongs to brittle fracture. The content of inclusions is more, and the composition is complex in the material. The heat treatment technology is improper. Improper quenched and tempered processing technologies cause more reticular and blocky ferrite in the steel. These are the main reasons for fracture of the tower axle.