Possibility of applying new roll materials (FRM roll materials), which are consisted of high speed tool steel reinforced with alumina fiber, to work rolls for hot rolling process is investigated by several laboratory tests. The FRM roll material expected to have superior tribological and mechanical properties, have been manufactured using sintering method (Hot Isostatic Pressing process) with which ceramic content can be increased. Wear resistance and mechanical properties and hot rolling characteristics of the materials were investigated, and the FRM roll material was found to have three times or more wear resistance, a little lower rolling force and friction coefficient, and same or more thermal crack resistance and higher tensile strength in comparison with high speed tool cast steels. Therefore, FRM roll materials are expected to be used for hot rolling as high performance roll materials instead of high speed tool steel.