High‐vanadium high‐speed steel (HVHSS), known for its exceptional wear resistance, is widely used in industries such as steel production, bearing manufacturing, and the manufacture of cutting tools and high‐end components. To address the need for improved performance under challenging service conditions, the fabrication of HVHSS is investigated using spark plasma sintering (SPS) as an alternative to traditional casting methods. The research focuses on analyzing the microstructural changes in HVHSS samples produced by SPS under various sintering temperatures. These samples are then compared with those of cast HVHSS in terms of their microstructures, mechanical properties, and wear resistance. The study found that at a sintering temperature of 900 °C, the SPS‐fabricated HVHSS achieved a relative density of 98.1%. The fine and evenly dispersed carbides (mainly M7C3 and VC) in the matrix increased the microscopic hardness to 654.1 HV, which is higher than that of the cast sample. Notably, the wear resistance is significantly enhanced, showing increases of 15.48 cm−3 and ≈18% in absolute and relative terms, respectively. These results show that SPS fabrication is a major technique for enhancing the wear resistance and optimizing the microstructure of HVHSS.