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Six oxide dispersion strengthened (ODS) ferritic steels, with the composition of Fe-(12-14)Cr-2W-(0.1-0.3-0.5)Ti-0.3Y(2)O(3) (wt.%), have been prepared by mechanically alloying elemental powders of Fe, Cr, W, and Ti with Y2O3 nano-particles followed by hot isostatic pressing. The influence of the chemical composition on the microstructure and mechanical properties of various materials was studied. It was found that the chromium content has a significant influence on the microstructure and mechanical properties of the compacted ingots. The 14Cr ODS steel exhibits slightly higher ultimate tensile strength and yield strength values than the 12Cr ODS steel. The total elongation and uniform elongation of both materials, in general, decrease with raising the test temperature, although in the case of the 12Cr ODS steel the elongation is about 30% higher than that of the 14Cr ODS material. In what concerns the effect of titanium content it can be concluded that variations between 0.1 and 0.3% have no visible effects on the microstructure and Charpy impact properties of compacted specimens. However, the microstructure of specimens with 0.5%Ti contains large TiO2 particles with a size in the range of 50-500nm, which have detrimental influence on the mechanical properties of that material.