We investigated the effects of the austenitizing temperature on the microstructure, hardness, and tensile properties of case-carburized steel after vacuum carburization at 930 °C and then re-austenitization at 820–900 °C followed by oil quenching and tempering. The results show that fractures occurred early with the increase in the austenitizing temperature, although all the carburized specimens showed a similar case hardness of 800 HV_0.2 and case depth of 1.2 mm. The highest fracture stress of 1919 MPa was obtained for the experimental steel when the austenitizing temperature was 840 °C due to its fine microstructure and relatively high percentage of retained austenite transformed into martensite during the tensile tests. We also found that the stress–strain behavior of case-carburized specimens could be described by the area-weighted curves of the carburized case and the core in combination. The strain hardening exponent was about 0.4 and did not vary with the increase in the austenitizing temperature. We concluded that the optimum austenitizing temperature was around 840 °C for the experimental steel.