High-Manganese (Mn) austenitic steel, with over 24 wt% Mn content, offers outstanding mechanical properties in cryogenic settings, making it a potential replacement for existing cryogenic materials. This high manganese steel exhibits high strength, ductility, and wear resistance, making it promising for applications like LNG tanks, flanges, and valves. To operate in cryogenic environments, hot forging and heat treatment processes are vital, especially in flange production. The cooling rate during high-temperature cooling after hot forging plays a critical role in influencing the microstructure and mechanical properties of high manganese steel. The rate at which cooling occurs during this process influences the size of the grains and the distribution of manganese and consequently has an impact on mechanical properties. This study assessed the microstructure and mechanical properties based on different cooling rates during the hot forging of High-Mn steel flanges. Comparing air and water cooling after hot forging, followed by heat treatment, revealed notable differences in grain size. These differences directly impacted mechanical properties such as tensile strength, hardness, and Charpy impact property. Understanding these effects is crucial for optimizing the performance and reliability of High-Mn steel in cryogenic applications.