The effects of processing parameters on the microstructure and mechanical properties of Fe-Mn-Cr- Mo-C PM steels are described. Pre-alloyed Astaloy CrM and Astaloy CrL, low-carbon ferromanganese and graphite powders were used as the starting materials. After pressing in rigid die, the compacts were conventionally and high temperature sintered at 1120 and 1250°C, respectively. Sintering was carried out for 60 minutes in atmospheres with different H2/N2 ratios. Cooling rate from sintering temperature was 65°C min-1 (convective cooling). The specimens were subsequently tempered at 200°C for 60 minutes in air. All specimens were tested for tensile strength (UTS), elongation (A), offset yield strength (R0:2), transverse rupture strength (TRS), impact toughness and apparent surface hardness (HV 30). After mechanical tests the microstructure of Fe-Mn-Cr-Mo-C PM steels was studied by optical microscopy. These investigations have shown that, by sintering in inexpensive and safe nitrogen-rich atmospheres, it is possible to achieve mechanical properties similar to those of specimens sintered in pure hydrogen and hydrogen-rich atmospheres.