AbstractThe authors describe the researching results to optimise the hardening and tempering of the high carbon high‐speed steel for rolls containing 2.38%C, 5.07%V, 6.34%Mo, 5.09%Cr, 1.20%Ni, 1.17%Nb, 0.09%Ti and 0.05%RE by means of light optical microscope (LOM), scanning electron microscope (SEM), backscattered electron image (BSE), X‐ray diffraction (XRD), and hardness, tensile strength, impact toughness and wear testers. The results show that the microstructure of above casting high‐speed steel is given by a tempered martensitic matrix surrounded by eutectic carbides. Casting high‐speed steel has higher hardness quenching at 1280 K–1340 K, and it has higher hardness, tensile strength, impact toughness, and abrasive wear resistance tempering at 793 K–833 K. The comprehensive properties of casting high‐speed steel is the best while air‐cooling quenching about 1340 K and tempering about 813 K.