<p>A power transmission V-belt (10) for transmitting high loads with extended useful life. The portion of the V-belt in which the tensile elements (13) thereof are embedded is formed of a rubber having short reinforcing fibers (17) distributed therein and oriented longitudinally of the belt. Different embodiments of both wrapped and raw edge belts embodying the invention are disclosed. Embodiments in which the outermost portion of the tension section and the innermost portion of the compression section are free of the longitudinally extending short fibers are also disclosed. Preferred amounts of the short fiber material and the hardness of the rubber are disclosed.</p>