A high-strength and wear-resistant alloyed gray iron with ausferritic microstructure on solidification directly from molten condition could be made in a Ni and Mo alloyed gray cast iron. The as-cast ausferritic cast iron was compared with two conventionally austempered gray iron with and without Ni and Mo additions. The various phase constitution and volume fractions were analyzed using optical, SEM and XRD analyses. The various aspects of the alloy chemistry and processing conditions have been correlated with the microstructure and mechanical properties obtained. The analysis showed that the Ni-Mo alloyed austempered gray iron and the directly as-cast austempered gray iron had similar phase constitutions. The strength of the direct as-cast alloy with ausferritic microstructure was higher than the others due to its higher austenite content and carbide distribution. The wear rate of the conventionally austempered Ni and Mo containing alloy and direct as-cast ausferritic alloys is 20% of the austempered gray iron without Ni and Mo with friction coefficient less than 0.4. © ASM International.