This invention provides an oil-tempered wire having high strength (tensile strength of not less than 1960 MPa) and excellent workability and specifically provides a steel wire for high-strength springs comprising as steel components, in weight percent, C   0.4-0.7% Si   1.2-2.5% Mn   0.1-0.5% Cr   0.4-2.0% Al 0.0001-0.005%, and being limited to P not more than 0.015% and S not more than 0.015%, the balance being Fe and unavoidable impurities, the steel wire having no nonmetallic inclusions of a size greater than 15 &mgr;m, a tensile strength of not less than 1960 MPa, and a yield ratio (&sgr;0.2/&sgr;B) of not less than 0.8 and not greater than 0.9 or a yield ratio (&sgr;0.2/&sgr;B) of not less than 0.8 and an amount of residual austenite of not greater than 6%. This invention also provides a method of producing the steel wire.