Low cycle fatigue tests are performed on the HSLA steel that be developed for a submarine material. The relation between strain energy density and numbers of cycles to failure is examined in order to predict the low cycle fatigue life of HSLA steel. The cyclic properties are determined by a least square fit techniques. The life predicted by the strain energy method is found to coincide with experimental data and results obtained from the Coffin-Manson method. Also the cyclic behavior of HSLA steel is characterized by cyclic softening with increasing number of cycle at room temperature. Especially, low cycle fatigue characteristics and microstructural changes of HSLA steel are investigated according to changing tempering temperatures. In the case of HSLA steel, the $varepsilon$-Cu is farmed in $550^{circ}C$ of tempering temperature and enhances the low cycle fatigue properties.