This study was carried out to investigate the relationship between the mechanical properties and damping capacity of thermo-mechanical treated 316L stainless steel. Dislocations, ${\varepsilon}$ and ${\alpha}^{\prime}$-martensites were formed by thermo-mechanical treatment, and the grain size was changed from micrometer to sub-micrometer by 5-cycled thermo-mechanical treatment. The volume fraction of dislocations, ${\varepsilon}$ and ${\alpha}^{\prime}$-martensites was increased, and grain size of austenite increased and lengthened by the with increasing cycle number of thermo-mechanical treatment. In 5-cycled specimens, the volume fraction of ${\alpha}^{\prime}$-martensite was more than 25% and the less than 5% of volume fraction of ${\varepsilon}$-martensite was attained. With increasing number of thermo-mechanical treatment, hardness, strength and damping capacity were increased, but elongation was decreased. Damping capacity was increased with increased hardness and strength, but decreased with increased elongation, and this result was the opposite tendency for general metal.