In this work, two bainitic steels with medium carbon content were developed by adding different Si. The mechanical properties of the two test steels and the stability of their retained austenite were studied, and the influence of Si in the steels was discussed. The results show that the film-like retained austenite of the high Si bainitic steel is greatly increased compared with that of the low Si bainitic steel and that the C content is increased, effectively preventing crack propagation and significantly improving the comprehensive mechanical properties. Due to the different Si content in the test steels, the orientation relationship of austenite in the steels has changed, and when the Si content is increased from 0.7 wt% to 1.4 wt%, the variant selection of bainite becomes weaker. Moreover, the increase of Si content not only inhibits the precipitation of carbides but also promotes the accumulation of C in the austenite, which improves the stability of the retained austenite.