A high-strength forged part is disclosed which comprises a base phase structure, comprising 30% or more of ferrite in terms of a space factor, and a second phase structure, comprising bainite and/or martensite, and retained austenite having an average grain diameter of 5 .mu.m or less and a content represented by 50.times.[C]<[V.sub..gamma.R]<150.times.[C], wherein [V.sub..gamma.R] represents a space factor of the retained austenite (.gamma.R) and [C] represents the mass % of C in the forged part. Furthermore, a high-strength forged part is disclosed which comprises a base phase structure, comprising 50% or more of tempered bainite or tempered martensite in terms of a space factor, and a second phase structure, comprising martensite and 3% to 30% retained austenite in terms of a space factor, wherein the portion of the retained austenite and martensite having an aspect ratio of 2 or less is 25% or less in terms of a space factor.