The conventional middle and high carbon spring steels have some drawbacks in properties, production and application. In order to meet the demands of rapid development of automobile, a new low and middle carbon spring steel35Si2CrMnVB, C0.34, Sil.66, Mn0.80, Cr0.67, V0.13, B0.001, P0.011, S0.014 wt.%, has been developed. Comparison between the new spring steel 35Si2CrMnVB and the conventional spring steel 60Si2MnA, C0.61, Sil.75, Mn0.76, P0.021,S0.018 wt.%, shows that the new spring steel has not only high strength, good ductility, good comprehensive mechanical properties, but also low decarbonization tendency, sufficient hardenability and high elastic sag resistance, etc.. The microstructure change in quenched steel caused by the decreasing of carbon contents is detected through metallographic observation, the new low and middle carbon spring steel 35Si2CrMnVB after quenching is composed of almost lath martensite with high dislocation density and only a little martensite with twin structure. It is testified that to develop low carbon spring steel with more excellent properties for automobile is feasible.