Abstract: The effects of the microalloying element niobium (Nb) on the microstructure and mechanical properties of the hot stamped steel 38MnB5 were investigated. The impact of Nb addition on the microstructure was studied through scanning electron microscopy (SEM), transmission electron microscopy (TEM), and X-ray diffraction (XRD). The experimental results indicated that the microstructures of the steel containing Nb were finer than those of the steel without Nb. Moreover, Nb mainly presented as a second-phase particle in 38MnB5 steel, and the particles included Nb carbonitrides. In addition, the tensile strength and elongation of the hot rolled and hot stamped steels were also measured, and they demonstrated that the appropriate addition of Nb was beneficial to the mechanical properties of 38MnB5. Under the same conditions, the tensile strength of 38MnB5Nb was higher than that of 38MnB5, which increased from 2011 to 2179 MPa. The yield strength also increased from 1316 to 1476 MPa, and the elongation increased from 5.92% to 6.64%. Overall, Nb had a positive effect on the performance of the hot stamped steel.