Abstract: Iron based braking material for highway train was developed based on the experimental research on components and powder metallurgy technology. The physical mechanical and friction and wear properties of the material were investigated with emphasis on the variations of the friction and wear behavior with the compositions and testing conditions. The friction and wear mechanism and the relationship between the microstructure and friction and wear properties of the braking material were also discussed. The results show that the braking material records a friction coefficient 0.31, wear rate 0.0022 mm/cycle, friction stability 88.9%, and good mechanical properties as well. The optimized comprehensive properties of the braking material can be reached by proper formulation.