A high-strength austenitic steel having a fully austenite structure and consisting essentially of 0.02 to 0.15 wt % of C, not greater than 1.5 wt % of Si, not greater than 2.5 wt % of Mn, 8 to 20 wt % of Ni, 13 to 25 wt % of Cr, 0.02 to 0.25 wt % of Al, not greater than 0.1 wt % of N, at least one of 0.001 to 0.01 wt % of B, 0.02 to 0.5 wt % of Nb, 0.01 to 0.2 wt % of Ti and 0.02 to 0.6 wt % of V and the balance substantialy Fe, with the weight ratio (Al/N) ranging between 1 and 4.5. This steel is suitable for use as the material of, for example, inner casing of steam turbine, valve body incorporated in the steam turbine, rotor shaft, and chemical equipment such as reaction pipe and vessel for styrene monomer producing facility.