The billets of M3 high speed steel (HSS) with or without niobium addition were prepared via spray forming and forging, and the corresponding microstructures, properties were characterized and analysed. Finer and uniformly-distributed grains without macrosegregation appear in the as-deposited high speed steel that are different to the as-cast high speed steel, and the primary austenite grain size can be decreased with 2% niobium addition. Niobium appears in primary MC-type carbides to form Nb 6 C 5 in MN2 high speed steel, whereas it contributes less to the creation of eutectic M 6 C-type carbides. With same treatments to forged MN2 high speed steel and M3 high speed steel, it is found that the peak hardness of these two steels are almost the same, but the temper-softening resistance of the former is better. With higher high-temperature hardness of the forged MN2 high speed steel, its temper softening above 600°C tends to slow down, which is related to the precipitation of the secondary carbides after tempering. A satisfactory solid solubility of Vanadium and Molybdenum can be obtained by Nb substitution, precipitation strengthening induced by larger numbers of nano-scaled MC and M 2 C secondary carbides accounts for the primary role of determining higher hardness of MN2 high speed steel. The results of the wear tests show that the abrasive and adhesive wear resistance of MN2 high speed steel can be improved by the grain refinement, existence of harder niobium-containing MC carbides, as well as solute strengthening by more solute atoms. The oxidational wear behavior of MN2 high speed steel can be markedly influenced by the presence of the high hardness and stabilization of primary niobium-containing MC-type carbides embedded in the matrix tested at 500°C or increased loads. The primary MC carbides with much finer sizes and uniform distribution induced by the combined effects of niobium addition and atomization/deposition would be greatly responsible for the good friction performance of the forged MN2 high speed steel.Keywords: spray forming / M3 high speed steel / niobium / microstructure