High-Mn austenitic steel reinforced with carbide particles can significantly enhance the wear resistance of steel. However, micron-sized particles may be detached from the surface of the matrix during repeated sliding wear, resulting in severe deterioration of the wear resistance of steel. In this study, different amounts of nanoscale V2C particles were precipitated from alloyed high-Mn austenitic steel by tempering at 400, 450 and 500 °C. With the increased tempering temperature, the strain hardening rate, nanohardness, modulus, and yield strength of the experimental steel all were significantly enhanced. A higher hardness and modulus enhanced the wear resistance of steel during the initial stage of three-body abrasive sliding wear. The higher strain hardening rate and yield strength improved the wear resistance of steel by enhancing the supporting effect of the austenitic matrix on the micron-sized particles. The wear mechanism of the tested steel was transformed from deep grooves to microploughing, pits, and fatigues with increased tempering temperature.