For the purpose of reducing weight of steel parts, save raw materials and keep or even improve safety standards, the development of advanced high strength steels is increasingly demanded in the automotive industry and engineering applications. We have proposed a novel heat treatment (quenching-partitioning-austempering treatment, Q-P-A) to obtain steel parts with high strength and good ductility. The Q-P-A process is intended to produce microstructure consisted of carbon-depleted martensite, carbon-enriched retained austenite and nanostructured bainite. Quenching(Q) treatment fabricates mixed microstructure of carbon-supersaturated martensite and certain amounts of untransformed austenite. Partitioning(P) thermal treatment accomplishes fully diffusing of carbon from the supersaturated martensite phase to the untransformed austenite phase and enriching the amount of carbon in untransformed austenite. Further low-temperature austempering(A) process induces incredible thin bainite from the carbon-enriched untransformed austenite. A study of the microstructure and mechanical properties of 50SiMnNiNb steel subjected to the novel Q-P-A treatment is presented. Microstructure is assessed by optical microscope(OM), field emission scanning electron microscope(FESEM) and transmission electron microscope(TEM), and the corresponding mechanical properties are measured. The experimental results indicate that attractive mechanical properties of steels during the Q-P-A process are attributed to the complex multi-phase structure. Slender plates of bainite with 20-40 nm thick are generated in the medium carbon steel. Meanwhile, with increasing of the volume fraction of nanostructured bainite, yield strength of steel parts is increased with little degradation of ultimate tensile strength. In this paper, a novel quenching-partitioning-austempering heat treatment is proposed, and the attractive mechanical properties of steels are obtained during the Q-P-A process.