The UNS S41003 ferritic stainless steel is a low‐carbon alloy that has great corrosion and oxidation performances in wet and aqueous environments, as well as it has high mechanical strength and ductility when compared to the most ordinary low‐carbon steels. These great characteristics, allied to its relatively low manufacturing cost, have made it a potential option to replace structural steels in many applications. Although it is a current trend, there are still few published studies that relate this steel manufacturing process with microstructural evolution and mechanical behavior, mainly regarding its wear behavior, which is a substantial and sometimes limiting characteristic for its applications. In this context, this article presents a pioneering study about the use of biphasic microstructures (ferrite–martensite) and controlled surficial oxidation to enrich the wear behavior of a UNS S41003 steel type. This study concludes that, if well planned, both the increase of martensite fraction and the controlled growth of an adherent and compact oxide layer on the steel surface significantly improve its wear performance, decreasing its wear rate up to 93%.