Improvement of wear resistance and mechanical performance of rails used in heavy-haul railway are essential to reduce railroad maintenance costs. A novel heat treatment based on quenching and partitioning (Q&P) processing was proposed to improve the wear resistance of a hypereutectoid pearlitic rail. 50% of austenite was transformed into martensite under an interrupted quenching from full austenitization temperature to 140 °C. A multiphase microstructure resulted from the quenching and partitioning process, consisting of tempered martensite, bainite, retained austenite, and pearlite colonies. The partitioning step was performed in the range of 350-650 °C. Microstructure characteristics were investigated using scanning electron microscopy, microhardness measurements, X-ray and electron backscattered diffraction. Uniaxial tensile and pin-on-disc tests were also performed to evaluate the mechanical properties and wear resistance. The best combination of wear resistance and mechanical performance was obtained in samples partitioned at 450 and 550 °C, which may be applied in the railway industries.