The invention discloses microalloyed steel used for an axle of a railway freight car, wherein the microalloyed steel contains the following chemical components by weight: 0.50-0.57 percent of C, 0.17-0.40 percent of Si, 0.60-1.00 percent of Mn, 0.20-0.35 percent of Cr, 0.18-0.40 percent of Ni, 0.08-0.18 percent of Mo, 0.02-0.06 percent of Al, 0.020-0.060 percent of Ti, 0.030-0.10 percent of V, less than or equal to 0.010 percent of S, less than or equal to 0.020 percent of P, less than or equal to 0.005 percent of B, less than or equal to 0. 20 percent of Cu, less than or equal to 0.010 percent of Sb, less than or equal to 0.03 percent of Sn, less than or equal to 0.04 percent of As, less than or equal to 0.0015 percent of [O] and less than or equal to 0.0060 percent of [N], and the rest is Fe. The invention has high strength, good plasticity, good low-temperature impact property and good crack-resistance sensitivity.