Current phenomenological knowledge and understanding of mechanisms are reviewed for radiation embrittlement of reactor pressure vessel low alloy steels and irradiation assisted stress corrosion cracking of core internals of stainless steels. Accumulated test data of irradiated materials in light water reactors and microscopic analyses by using state-of-the-art techniques such as a three-dimensional atom probe and electron backscatter diffraction have significantly increased knowledge about microstructural features. Characteristics of solute clusters and deformation microstructures and their contributions to macroscopic material property changes have been clarified to a large extent, which provide keys to understand in the degradation mechanisms. However, there are still fundamental research issues that merit study for long-term operation of reactors that requires reliable quantitative prediction of radiation-induced degradation of component materials in low-dose rate high-dose conditions.