The carbide distribution and retained austenite effects in cold work tool steels on their wear behavior are studied using different quenching, tempering and cryogenic processes. Treated specimens were characterized using optical and scanning electron microscopy, hardness measurements, X-ray diffraction as well as wear tests in a block-on-roller method without lubrication. Beside primary carbides being large and non-uniformly distributed in the D2-B specimen, the weight losses of the D2-B specimen (62.4 HRC) quenched and tempered at 200°C was highest among all tested specimens due to substantial retained austenite in the tempered martensite matrix. With the aid of small and uniform dispersed carbides, the DC53 steel specimen (61.3 HRC) showed less weight loss and exhibited the best wear resistance. The weight loss from cryogenically treated specimens was lower than that of non-cryogenically treated one.