In this study, ODS ferritic stainless steels were fabricated using a commercial alloy powder, and their microstructures and mechanical properties were studied to develop the advanced structural materials for high temperature service applications. Mechanical alloying and uniaxial hot pressing processes were employed to produce the ODS ferritic stainless steels. It was revealed that oxide particles in the ODS stainless steels were composed of Y-Si-O, Y-Ti-Si-O, and Y-Hf-Si-O complex oxides were observed depending on minor alloying elements, Ti and Hf. The ODS ferritic stainless steel with a Hf addition presented ultra-fine grains with uniform distributions of fine complex oxide particles which located in grains and on the grain boundaries. These favorable microstructures led to superior tensile properties than commercial stainless steel and ODS ferritic steel with Ti addition at elevated temperature.