This paper has been extracted from the published paper From the TRIP effect and Quenching and Partitioning steels concepts to the development of new high-performance, lean powder metallurgy steels[ ]. A new method of developing lean powder metallurgy steels is proposed. The microstructure of the steel is tailored by combining two different prealloyed steel grades. These materials open a new niche in steel grades for high-performance applications by using a low-cost method of production and conventional grades available in the market without specific requirements. By means of mixing powders from grades with different phase stabilizer character and/or carbide affinity, and using different carbon contents, it is possible to tailor the microstructure obtaining a good combination of strength/ductility with a fair total amount of alloying elements. The fact that was used commercially available powders, with not so high percentage of alloying elements, can assure a cost effective process. Steels were manufactured by mixing the different grades, uniaxial cold compaction and sintering in N2-H2 atmosphere at 1100 and 1200 ºC. Density, dimensional changes after sintering, tensile features, hardness and microstructure were analysed.