A high-strength austenitic stainless steel strip exhibiting excellent flatness with a Vickers hardness of 400 or more, having a composition comprising C up to 0.20 mass %, Si up to 4.0 mass %, Mn up to 5.0 mass %, 4.0-12.0 mass % Ni, 12.0-20.0 mass % Cr, 0.24-5.0 mass % Mo, N up to 0.15 mass % and the balance being Fe and inevitable impurities and having a value Md(N) in a range of 0-125 defined by a formula:
- Md(N)=580-520C-2Si-16Mn-16Cr-23Ni-26Cu-300N-10Mo, and having a dual-phase structure of austenite and martensite which includes a reversion austenitic phase at a ratio more than 3 vol. %.