<p>Pulse magnetic field treatment is considered a relatively new technique for regulating the microstructure and properties of bearing steel. The study presents an investigation into the impact of high-intensity pulsed magnetic field treatment on the mechanical stability of austenite in bearing steel Cr4Mo4V. The compression test demonstrated that the magnetic field treatment has a positive effect on enhancing the mechanical stability of austenite. The findings from the amplitude-dependent internal friction analysis reveal that the pulsed magnetic field treatment contributes to a notable reduction in internal friction at lower strain amplitudes, with the friction levels at higher amplitudes remaining largely unaffected. This phenomenon is attributed to the interplay of two distinct mechanisms: the irreversible motion of magnetic domains and the separation of dislocation, which collectively contribute to hysteretic elastic damping. Furthermore, an observed elevation in the Snoek-Kê-Kóster peak within the temperature-dependent internal friction analysis suggests that the magnetic field actively promotes dislocation mobility and intensifies the interaction between interstitial atoms and dislocations. The change in internal friction behavior substantiates that the pulsed magnetic field can depolymerize the Cottrell atmospheres, leading to the re-solution of carbon atoms into the matrix and an enhanced dislocation density, which may be the reasons for the increase in the mechanical stability of austenite in Cr4Mo4V steel induced by the magnetic field.</p>