Steel forging tools are subjected to a number of tribological wear mechanisms depending on the geometry and surface of the tool and the flow of the material. Thus, there is no single general tribological wear mechanism, and only the predominant wear mechanisms in this case can be indicated. The problem has been known for years, but due to its complexity research on it is still relevant. In this study, the various wear mechanisms of hot work tools are analyzed on the basis of original research. Moreover, the influence of the micro- and macrostructure of the material and of its mechanical, physical, and technological characteristics on susceptibility to a given type of wear is considered. Adhesive wear, wear caused by plastic deformation, mechanical fatigue, thermal fatigue, the influence of hardness, heat treatment, and impact strength on tool wear and the mechanisms causing this wear are discussed in addition to tribological wear mechanisms such as abrasive wear. The influence of thermomechanical history and the characteristics of the tool material, including structural anisotropy, on the wear of these tools is indicated. The analysis of wear mechanisms performed will enable more precise definition of the principles of tool material selection and tool material condition for the hot forging of steel.