The present invention provides a spring steel that has superior hardenability, undergoes less pitting in a corrosive environment, and can achieve higher stress and toughness. More specifically, the present invention provides a high-strength and high-toughness spring steel with improved hardenability and pitting resistance, comprising, in mass percent, 0.40 to 0.70% carbon, 0.05 to 0.50% silicon, 0.60 to 1.00% manganese, 1.00 to 2.00% chromium, 0.010 to 0.050% niobium, 0.005 to 0.050% aluminum, 0.0045 to 0.0100% nitrogen, 0.005 to 0.050% titanium, 0.0005 to 0.0060% boron, no more than 0.015% phosphorus and no more than 0.010% sulfur, the remainder being composed of iron and unavoidable impurities, the steel having a tensile strength of at least 1700 MPa in 400°C tempering after quenching and a Charpy impact value of at least 40 J/cm 2 for a 2mm U-notched test piece of JIS No. 3 and the parameter Fce being at least 1.70.