The invention particularly relates to novel martensitic wear resistant steel and a production technology for steel casting thereof, belonging to the technical field of wear resistant steel in iron and metal metallurgy and foundry industry. Chemical components in the novel martensitic wear resistant steel comprise, by weight, C 0.3% to 0.5%, Si 0.8% to 1.5%, Cr 2.1% to 2.5%, Mn 0.8% to 1.5%, Ni 0.7% to 1.2%, Mo, 0.6% to 1.0%, Nb 0.1% to 0.3%, Ti 0.1% to 0.5%, Re 0.04% to 0.05%, and P and S no more than 0.04, with the balance being Fe. The production technology for steel casting comprises a smelting process, a casting process, a heat treatment process and quality inspection. The novel martensitic wear resistant steel provided in the invention can be used for liner plates of ball mills, hammerheads of hammer mills or the like used in metallurgic mines under the condition of low impact, is applicable to wear resistant products used in various mines like gold mines, iron mines and cement quarries, and is a novel wear resistant material capable of substituting conventional high manganese steel. According to results of utilization in ore dressing factories for iron ore and cement, the novel martensitic wear resistant steel has an improved service life 2 to 2.3 times longer than the high manganese steel.