Samples　of　high-vanadium　high-speed　steel　with　different　hardness,　impact　toughnes　were　obtained　by　varying　heat　treatment　conditions.　Effects　of　hardness　and　impact　toughness　on　wear　stability　were　studied.　Concept　of　wear　stability　was　put　forward,　which　could　be　quantitatively　expressed　by　wear-stability　factor　(K).　Results　show　that　the　wear　stability,　as　well　as　wear　resistance,　increases　with　the　increasing　of　hardness.　With　impact　toughness　increasing,　wear　stability　increases　although　wear　resistance　decreases.　The　wear　stability　linearly　decreases　with　increasing　of　the　changing　amount　of　retained　austenite　(ΔAr).　Material　wear　stability,　differing　from　wear　resistance,　could　be　well　revealed　when　wear　stability　of　constant　condition　is　quantitatively　expressed　by　wear-stability　factor.