Abstract: 10Cr17 stainless steel was annealed in low temperature (840, 880 ℃) single phase region and high temperature (950, 1 000, 1 050, 1 100 ℃) dual phase region, and then cooled to room temperature by air and water cooling. The effect of annealing temperature and cooling method on microstructure, mechanical properties and corrosion resistance of 10Cr17 stainless steel was investigated. The results show that the annealed microstructure of the test steel at low temperatures (840, 880 ℃) was ferrite and (Fe,Cr)₂₃C₆ carbide, and at high temperatures (950~1 100 ℃) was ferrite, martensite and (Fe,Cr)₂₃C₆ carbide. When the temperature reached 1 000 ℃ and above, complete dynamic recrystallization occurred, and the recrystallized grain size by water cooling was smaller than that by air cooling. Comparing with the low temperature annealed steel, high temperature annealed test steel had higher strength, worse plasticity and better corrosion resistance, and the corrosion resistance under high temperature annealing and water cooling conditions was better than that under high temperature annealing and air cooling conditions. The strength of the test steel by water cooling was higher than that by air cooling, while the plasticity was slightly lower. When the annealing temperature was 950 ℃, the test steel had good strength and plastic combination, and the best corrosion resistance.