An abrasion resistant steel excellent in bending formability and suitable for members, e.g., power shovels, which come into contact with earth and sand, and a production method thereof are provided. Specifically, the steel contains, on a percent by mass basis, 0.05% to 0.35% of C, 0.05% to 1.0% of Si, 0.1% to 2.0% of Mn, 0.1% to 1.2% of Ti, 0.1% or less of Al, at least one element of 0.1% to 1.0%of Cu, 0.1% to 2.0% of Ni, 0.1% to 1.0% of Cr, 0.05% to 1.0% of Mo, 0.05% to 1.0% of W, and 0.0003% to 0.0030% of B, if necessary at least one element of 0.005% to 1.0% of Nb and 0.005% to 1.0% of V,and the remainder including Fe and incidental impurities, where DI* represented by the following formula is less than 60. DI * = 33.85 0.1 C * 0.5 0.7 Si + 1 3.33 Mn + 1 0.35 Cu + 1 0.36 Ni + 1 2.16 Cr + 1 3 Mo * + 1 1.5 W * + 1 where C* = C - 1 / 4 (Ti - 48 / 14N), Mo* =; Mo (1 - 0.5 (Ti - 48 / 14N)), and W* = W (1 - 0.5 (Ti - 48 / 14N)).