Austenitic stainless steels possessing good corrosion resistance have recently found growing applications as a constructional material. In this instance, increasing strength properties, which are typically quite low, is of great interest. Due to the low stacking fault energy, strain hardening of alloyed austenite is efficient for increasing tensile strength without impairing ductility seriously. In addition, certain grades are unstable, so that cold working creates strain‐induced martensite that enhances strengthening. Grain size refinement to micrometer scale or even finer can also increase the yield strength, still providing good ductility. In the present paper dislocation and phase transformation strengthening and thereby properties achievable in temper rolled austenitic stainless steels are discussed. Strengthening by the reversion annealing is also described and excellent results achievable are shown. Finally, the effect of bake hardening through the static strain ageing is presented. Long‐term research work in various projects indicates that the current knowledge of strengthening of austenitic stainless steels is close to the industrial utilisation.