AISI D3 cold work steel was shallow and deep cryogenically treated and double tempered at 150, 250, and 350 °C temperatures. Cryogenic processes transformed the retained austenite into martensite, while double tempering produced Fe, Cr, and W-rich carbides. The wear losses of cryogenically treated specimens decreased by up to 60% compared to conventionally heat-treated samples. Worn surfaces mainly experienced abrasive and adhesive wear mechanisms. Due to the formation of homogeneously dispersed fine carbides at 250 °C, oxidative wear occurred at the matrix phase, resulting in the lowest wear rate. The samples tempered at 150 °C suffered from the severe abrasive action of hard carbide particles, while the samples treated at 350 °C failed because of carbide coarsening.