模具选材需要满足三个原则，模具满足耐磨性、强韧性等工作需求，模具满足工艺要求，同时模具应满足经济适用性。
1、耐磨性
坯料在模具型腔中塑性变性时，沿型腔表面既流动又滑动，使型腔表面与坯料间产生剧烈的摩擦，从而导致模具因磨损而失效。所以材料的耐磨性是模具最基本、最重要的性能之一。
硬度是影响耐磨性的主要因素。一般情况下，模具零件的硬度越高，磨损量越小，耐磨性也越好。另外，耐磨性还与材料中碳化物的种类、数量、形态、大小及分布有关。
2、强韧性
模具的工作条件大多十分恶劣，有些常承受较大的冲击负荷，从而导致脆性断裂。为防止模具零件在工作时突然脆断，模具要具有较高的强度和韧性。
模具的韧性主要取决于材料的含碳量、晶粒度及组织状态。
3、疲劳断裂性能
模具工作过程中，在循环应力的长期作用下，往往导致疲劳断裂。其形式有小能量多次冲击疲劳断裂、拉伸疲劳断裂接触疲劳断裂及弯曲疲劳断裂。
模具的疲劳断裂性能主要取决于其强度、韧性、硬度、以及材料中夹杂物的含量。
4、高温性能
当模具的工作温度较高进，会使硬度和强度下降，导致模具早期磨损或产生塑性变形而失效。因此，模具材料应具有较高的抗回火稳定性，以保证模具在工作温度下，具有较高的硬度和强度。
5、耐冷热疲劳性能
有些模具在工作过程中处于反复加热和冷却的状态，使型腔表面受拉、压力变应力的作用，引起表面龟裂和剥落，增大摩擦力，阻碍塑性变形，降低了尺寸精度，从而导致模具失效。冷热疲劳是热作模具失效的主要形式之一，帮这类模具应具有较高的耐冷热疲劳性能。
6、耐蚀性
有些模具如塑料模在工作时，由于塑料中存在氯、氟等元素，受热后分解析出HCI、HF等强侵蚀性气体，侵蚀模具型腔表面，加大其表面粗糙度，加剧磨损失效。
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