The results of a microstructural investigation on Alloy 625 which has undergone prolonged service at temperatures close to but less than 600" C are reported in this paper. A uniform distribution of precipitates of an intermetallic phase, Ni,(Cr,Mo) with Pt,Mo type structure has been observed in addition to that of the y" phase for service periods exceeding 28,000 h. The Ni,(Cr,Mo) phase has been found to dissolve on ageing at temperatures above 600" C. The dissolution of this phase has been noticed to result in a reduction in hardness and impact properties of the alloy. The occurrence of Ni,(Cr,Mo) phase in this alloy has been discussed by taking the alloy chemistry into consideration. Apart from these intermetallic phases, precipitation of M,C carbide particles within the austenite matrix and the formation of a near continuous film comprising discrete M,C/M,,C, carbide precipitates at grain boundaries have been noticed in the alloy after prolonged service. Energy Dispersive Spectroscopy(EDS) analysis has revealed that the majority of the carbides precipitating at the grain boundaries at temperatures around 600" C are of M,,C, type. The influence of the intennetallic and the carbide phase precipitates on the performance, properties and life of Alloy 625 is also discussed in this paper. Cupcral!o\., :'! S. h2i. 706 arid b'arious l) c r~\ a t i \~: i