40Cr steel was formed for chain wheel using a warm extrusion technique at different temperatures. The microstructures and chemical compostions of the obtained samples were analysed using an optical microscope and photoelectric direct-reading spectrometer, repectively. After the tensile test, the fracture morphologies of 40Cr steel were analysed using a field emisson scanning electron microscope, the effects of warm extrusion temperatures on the tensile properties of 40Cr steel were discussed. The results show that the yield limits of 40Cr steel extruded warmly at 550, 650, and 750°C are coincident approximately, compared with that at the extrusion temperature of 550°C, both the tensile strengths and the elongation rates of 40Cr steel at the extrusion temperatures of 650 and 750°C decrease. As the extrusion temperature increases, both the residual and the retained austenite contents of 40Cr steel decrease, and the plastic and the tensile strengths of 40Cr steel decrease.