A high-strength, high-toughness steel alloy includes, generally, about 2.5% to about 4% chromium, about 1.5% to about 3.5% tungsten, about 0.1% to about 0.5% vanadium, and about 0.05% to 0.25% carbon with the balance iron, wherein the percentages are by total weight of the composition, wherein the alloy is heated to an austenitizing temperature and then cooled to produce an austenite transformation product.