Effect of Nb on microstructure and mechanical properties of chilled cast iron at room and elevated temperatures is studied in this research. The results demonstrate that the cast structure and mechanical properties of chilled cast iron at room and elevated temperatures are improved with the addition of trace amount of Nb. However, if Nb was added too much, the cast structure and mechanical properties of chilled cast iron would deteriorate. The suitable content of Nb in chilled cast iron is about 0.05% (mass fraction). Except the dissolution in the matrix of cast iron the excessive Nb will form Nb-rich phases in three morphologies. Those are lumpy NbC, complicated strip-like phase and compound with pearlite structure.