The microstructure of medium-carbon non-heat treated steels by air-cooling shows ferritepearlite structure. Compared to the conventional Q/T steels, the strength of these steels containing V, Nb and Ti are similar to Q/T steels. However, their toughness are inferior. In this study, the mechanical properties and microstructures of low-carbon Mo bearing steels produced by direct-quenching process were investigated. Especially, the effect of Mo on the direct-quenched steels was examined. The direct-quenched steels containing Mo were found to have higher strength and toughness. Mo seemed to be effective in producing the fine structure and dense precipitates because of decreasing transformation temperature. The best results were 1211 MPa in UTS and 127.5 J in toughness in the oil quenched 0.15C+O.llV+ 0.035Nb+ 1.81Mo steel. Compared to 0.4% C microalloyed steels, this results showed that UTS increased by 45% and toughness by 2 times.