Abstract: A new production route for producing a new class of oxides dispersion strengthened (ODS) steels was investigated. The steel produced by the chemical socking method has high temperature strength, low ductile-to-brittle transition temperature, good creep properties and void swelling resistance. The formation process and behavior of oxides (Y₂O₃) in the prealloyed powders were analyzed in the process of thermal decomposition, interracial reactions of hot isostatic pressing, and precipitation of deformation processing. A uniform distribution of oxide particles could be obtained by selecting reasonable parameters.