A nanocrystalline textured stainless steel (SS) surface passivated with an AlCr oxide layer is proposed for use as a high temperature solar selective absorbers (SSAs). The textured SS surface was prepared by oxidizing in air at 800 °C for 30 min. The heating resulted in outward diffusion of the SS substrate Mn atoms, their oxidation on the surface, and formation of octahedral Mn3O4 nanocrystals, which play a role of textured surface. The passivation AlCr oxide single layer was deposited on the textured surface using reactive RF magnetron sputtering to protect the SS from further oxidation. The solar absorptivity αs and thermal emissivity ε298K of the as-deposited SSAs were 0.84 and 0.165, respectively. In order to study high temperature stability, SSAs were heat treated under air conditions at 600–900 °C for 0.1–300 h. SSAs demonstrated thermal stability at 600 °C for at least 300 h and degradation of optical properties with performance criterion PC < 0.05 at 700, 800, and 900 °C for 300 h, 30 h, and 1 h, respectively. The increase in thickness of the surface Cr2O3 layer on SS substrate was identified as the main degradation mechanism of SSA optical performance. SSAs demonstrated a high activation energy of 330 ± 30 kJ/mol. The obtained data can be used to design high temperature SSAs for concentrating solar energy systems operating under vacuum or air conditions at 500 °C.