The beneficial effects of deep cryogenic treatment (DCT) at temperatures close to -180°C on certain mechanical properties of steels are well known, although the metallurgical base mechanism of DCT still needs further clarification. In this study, the thermal decomposition of steel martensite (100Cr6) subjected to low-temperature soaking over different periods (SDCT = 5 min at -180°C, LDCT = 24 h at -180°C) is investigated by means of differential scanning calorimetry and dilatometry. The results were compared with those for the same conventionally quenched and tempered steel. Isochronal annealing experiments at different heating rates were performed, in order to highlight the main tempering stages and to obtain their relevant activation energies. DCT was clearly shown to lower the Ea of the pre-precipitation process more intensely than in the quenched steel. This result may probably be ascribed to an increased dislocation density and to the activation of the carbon segregation process in larger amounts of martensite. The precipitation of transition carbides was also enhanced by the low-temperature conditioning of martensite. As expected, DCT transformed the retained austenite, so that the corresponding peaks almost disappeared from both the dilatometric and the DSC patterns.