Abstract: The stainless steel faces a series of problems such as high strength、low toughness、low wear resistance and hydrogen embrittlement in the process of ultra-low temperature service. Three typical hydrogen embrittlement theories were described. The influence of chemical composition, deformation amount and strain rate on mechanical properties of stainless steel was analyzed at ultralow temperature conditions. The mechanism of microstructure evolution of stainless steels was clarified at ultra-low temperature conditions. The interrelationship between microstructure and mechanical properties was revealed regarding dislocation configuration, slip band, mechanical twins, austenitic and martensitic phases. Moreover, the mechanism analyses were carried out by improving the processing technology, adjusting the chemical composition ratio, and reducing the grain size. Finally, typical application and future development of stainless steels were discussed in hydrogen energy storage and transportation.