Carbon segregation to defects in martensite is a phenomenon known for its occurrence and interference with mechanisms such as carbon partitioning in multiphase steels. Especially in martensite–austenite partitioning processes, carbon trapping at/de-trapping from martensite defects plays an important role since it interacts with the austenite enrichment. In this work, we develop a physics-based model in which we incorporate the concurrent evolution of carbon partitioning and trapping at/de-trapping from martensite defects. The model describes the global and local, time-dependent distribution of carbon between three lattice types, namely martensite defects, martensite solid solution, and austenite. We implement the model in mean-field and full-field descriptions, and discuss the interaction between carbon enrichment in austenite and segregation to martensite defects, on the basis of global equilibrium as well as on the carbon kinetics. We apply the model in several martensite — austenite microstructures and discuss the dependence of the interaction between carbon partitioning and trapping at/de-trapping from defects on specific microstructural features, i.e. phase fractions and microstructural banding.