The influence of Nb contents between 0.20 and 1.20wt% on the grain size and mechanical properties of 18wt% Cr ferritic stainless steel produced by investment casting was investigated. The average grain sizes of the three steels decreased apparently with increasing Nb content mainly due to the increasing number of pre-existing oxides formed at higher temperature, which were more likely to be the nuclei of heterogeneous nucleation. The thermodynamic analysis of Nb(C,N) formation was in conformity to the experimental result that the Nb(C,N) precipitates became larger with increasing Nb content. The as-cast specimen with the smallest grain size of steel C had the worse tensile strength and elongation in comparison with the as-cast specimens of steels A and B, mostly owing to the catenarian and dendritic Nb(C,N) particles distributed densely at the grain boundaries. The mechanical properties of specimens were not improved remarkably through high temperature solid-solution, whereas the mechanical properties of normalized specimens in the three steels were improved to different degrees. The coalescence and sparse distribution of smaller precipitates at grain boundaries after normalizing effectively weakened the local stress concentration arising from the reticular distribution of particles. The normalized specimen of steel A with 0.24wt% Nb still showed good mechanical properties. Normalizing at 850°C for 2h is the appropriate heat treatment for the 18wt% Cr ferritic stainless steel. The comparatively rational Nb content of the ferritic stainless steel is between 0.20 and 0.40wt% for investment casting production.