The invention relates to a two phase stainless steel, which comprises the following chemical components in weight percent: 0 to 0.12 percent of C, 4.0 to 8.0 percent of Mn, 12.0 to 25.0 percent of Cr, 0.20 to 1.5 percent of Al, 0.5 to 3.0 percent of Ni, 0.4 to 3.0 percent of Mo, 0 to 1.0 percent of Cu, 0.2 to 2.5 percent of Si, 0.05 to 0.3 percent of N, 0.02 to 0.05 percent of Re, less than or equal to 0.03 percent of S, less than or equal to 0.035 percent of P, and the balance being Fe. The two phase stainless steel has the advantages of high strength, good toughness, excellent wear resistance and corrosion resistance, in particular the superiorities of stress corrosion cracking resistance, complete corrosion resistance, intergranular corrosion resistance, and pitting corrosion resistance and vacuole corrosion resistance in sea water in solutions such as strong base (such as NaOH), chlor-alkali (NH4Cl), oxidizing acid (such as HNO3), sodium thiocyanate, phosphate solution, good hot and cold processability, and low cost.