WC-Ti(C,N)-Cr₃C₂-Co ultrafine-grained cemented carbides with different contents of C, N and Co binder phases were fabricated. Their microstructures and mechanical properties were examined, and the relationship between the existing form of Ti(C,N) and various conditions was mainly discussed. The hardness of the samples increased and their fracture toughness decreased with decreasing C content. The average T.R.S. peaked at 4.8 GPa on the low-C side. Their microstructures significantly changed when the N₂ partial pressure changed. At a N₂ partial pressure of 2.6 kPa, the microstructure became finer and the average T.R.S. was the highest. Meanwhile, at N₂ partial pressures of 0 and 11.7 kPa, the microstructure became coarser and the average T.R.S. decreased. As the content of Co binder phase decreased, the number of WC/WC interfaces increased. The average T.R.S. was maximum at 16.4 vol% Co, and decreases with the Co content, but was higher than those of conventional cemented carbides. The existing form of Ti(C,N) changed depending on the N content. Herein, a N₂ partial pressure of 2.6 kPa and low C contents were deemed optimal.