Vanadium nitrogen alloy is a new alloy additive which can replace ferro vanadium for the production of microalloyed steel. NiV can improve the mechanical properties of steel such as strength, toughness, ductility and thermal fatigue resistance,and make the steel have good weldability. At the same strength,use NIV can save vanadium addition20-40%,thereby reducing the cost. NiV alloy can be used in structural steel, tool steel, pipeline steel, reinforcing bar and cast iron. Vanadium-nitrogen alloys can be effectively microalloyed simultaneously in high strength low alloy steels to promote the precipitation of carbon, vanadium and nitrogen compounds in steels,more effectively enhance sedimentation and grain refinement