The influence of the austempering temperatures on the microstructure and mechanical properties of austempered ductile cast iron (ADI) was investigated. ADI is nodular graphite cast iron, which owing to higher strength and elongation, exceeds mechanical properties of conventional spheroidal graphite cast iron. Such a combination of properties is achieved by the heat treatment through austenitization, followed by austempering at different temperatures. The austenitization conditions were the same for all the samples: temperature 890 °C, duration 30 min, and quenching in a salt bath. The main focus of this research was on the influence of the austempering temperatures (270 °C, 300 °C, and 330 °C) on the microstructure evolution, elongation, toughness, and fatigue resistance of ADI modified by certain amounts of Ni, Cu, and Mo. The Vickers and Rockwell hardness decreased from 535.7 to 405.3 HV/1 (55.7 to 44.5 HRC) as the austempering temperature increased. Optical images showed the formation of graphite nodules and a matrix composed of ausferrite; the presence of these phases was confirmed by an XRD diffraction pattern. A fracture surface analysis revealed several types of the mechanisms: cleavage ductile, transgranular, and ductile dimple fracture. The stress-controlled mechanical fatigue experiments revealed that a 330 °C austempering temperature ensures the highest fatigue life of ADI.