The present study investigated the influence of transverse static magnetic field (TSMF) on microstructure and properties of GCr15 bearing steel remelted by electroslag continuous casting (ESCC) method. The microstructure, inclusions, contents of elements (sulfur, phosphorus and oxygen) and mechanical properties in terms of tensile test, impact toughness and hardness had been analyzed. The overall results reveal that the presence of static magnetic field is beneficial for microstructure refinement as well as inclusion and harmful elements removal, thus achieving considerable improvement in mechanical properties of GCr15 bearing steel.