Railway wheels are exposed to high mechanical and thermal loads. The objective of this study has been to develop wheels that are more resistant to damage from these loads. Fourteen different materials have been produced in the form of full-scale railway wheels. Parameters that have been varied include the chemical composition, production processes, and heat treatment. The materials have been investigated microstructurally and by hardness, tensile, and impact toughness testing. In addition, the low-cycle fatigue (LCF) behavior has been characterized at room temperature and at subzero temperatures. The results indicate improvement in microstructure and mechanical properties for some materials and it is probable that these materials would endure better in service.