Malleable high chromium ferritic alloy

The invention discloses a malleable high chromium ferritic alloy, which comprises the following chemical compositions according to weight percentage: less than or equal to 0.001 percent of C, less than or equal to 0.001 percent of N, less than or equal to 0.05 percent of Si, less than or equal to 0.05 percent of Mn, 29 to 31 percent of Cr, less than or equal to 0.12 percent of Mo, less than or equal to 0.014 percent of P, less than or equal to 0.003 percent of S, and the balance of Fe and inevitable impurities. The stability ratio of the Mo to (the C and the N) is 8 to 20. The malleable high chromium ferritic alloy has excellent corrosion resistance and toughness.