In this paper, we design and prepare five kinds of high-boron high-speed steel roll materials. The microstructure, mechanical property and wear resistance of highboron high-speed steel roll materials were studied by means of optical microscopy (OM), scanning electron microscopy (SEM), X-ray diffraction (XRD) and hardness measurement, impact test and abrasion test. The results show that as-cast microstructure of high-boron high-speed steel consists of martensite, retained austenite and borocarbide. Hardness of as-cast high-boron high-speed steel excels 64 HRC. In unmodified high-boron high-speed steel, eutectic borocarbide is distributed in a network along the grain boundary. With the addition of RE-Mg-Ti compound modifier, the networks of borocarbide is broken. The hardness of high-boron high-speed steel gradually decreased with the increase of tempering temperature. Under the same conditions, the impact toughness of unmodified high-boron high-speed steel roll material is slightly lower than that of modified steel. The wear resistance of modified high-boron high-speed steel roll material is greater than that of high-carbon high-vanadium high-speed steel roll.