In order to improve irradiation embrittlement of vanadium alloys for fusion reactors, yttrium (Y) has been added reducing the interstitial oxygen impurity. However Y addition can also degrade high-temperature strength, because Y could scavenge oxygen in solid solution, which is a strong hardening agent in vanadium alloys. In this study, the effect of Y addition and oxygen level on the mechanical properties was investigated from the view points of both the high-temperature strength and low temperature ductility. Y addition was suggested to moderate the hardening and embrittlement induced by oxygen impurity sustaining the high-temperature strength within an acceptable level.