The article describes the results of experimental studies for the effect of thermal treatment (TTM) of G-X300CrMo27-1 high-chromium cast iron samples in the solid–liquid and liquid state on the structure, phase composition, and properties of ingots. For ingots with a carbon content of 2.8 to 4.5 wt%, cooled at a rate of 3.3 * 10−2 deg s−1, the dependencies of the structure, phase composition, composition of primary, eutectic carbides and matrix, hardness HV and microhardness of its individual phases and resistance to abrasive wear from the temperature of isothermal holding at TTM. A significant effect of the TTM temperature of melts on the structure and properties of high-chromium cast iron ingots was detected. The temperatures of inflection on the plotted curves for the characteristics of the structure and properties of the ingots were associated with a phase transition in iron at 1400 °C and with a point on the phase diagram liquidus of the Fe-Cr system. This as well as an increase in the concentration of chromium in the composition of primary carbides with an increase in the TTM temperature up to 1480 °C, made it possible to assume that (Cr, Fe)7C3 clusters stable in composition were formed in the melt of such cast irons below ∼1500 °C. The reasons for the decrease in the size of primary carbides during G-X300CrMo27-1 molten chromium iron overheating above 1500 °C were substantiated based on these data. During the TTM of fine-crystalline ingots made of hypereutectic cast iron in the temperature range between the liquidus and solidus lines, it was detected that the primary carbides (Cr, Fe)7C3 recrystallized resulting in a significant decrease in the chromium content and an increase in the iron content in them. At the same time, their sizes did not change significantly. Their share increased, and the share of eutectic carbides decreased. Such a process also had a significant impact on the properties of the resulting ingots. The most preferable temperatures of hot metal cast irons in the liquid and solid–liquid states were identified based on the results of the studies.