The microstructure and mechanical properties of high Ni–Cr–Mo indefinite chilled cast iron with the addition of a newly developed multicomponent modifier consisting of mixed rare earths, Si–Ca alloy and Bi–Sb alloy have been investigated through optical microscopy, X-ray diffraction and scanning electron microscopy, along with hardness, impact toughness and wear resistance measurements. After the addition of the modifier, the grain sizes of the primary austenite and eutectic carbides are found to be greatly refined, and the typically highly continuous net-like carbides become less interconnected but rather appear more blocky shaped. Such microstructure changes lead to mechanical property improvement in the cast specimen, with its hardness increased from 43 to 50 HRC, impact toughness from 6·3 to 7·8 J cm−2 and ⩾20 increase in abrasive wear resistance.