Powder metallurgical (PM) parts usually benefit from more homogenous and finer microstructures as opposed to conventionally processed material. In particular, hot isostatic pressing (HIP) combined with near-net-shape technologies can produce almost defect free PM tools with complex geometries. Recent advances in the plant technology of smaller HIP units allow the integration of hardening heat treatments in HIP processes. Thus, additional processing steps, transportation, energy consumption and cost are reduced. However, it is known that high pressure influences phase stability and transformation temperatures. Still, knowledge of the martensite start temperature (MS) is crucial for the design of hardening heat treatment. Since the influence of pressure on MS in HIP heat treatment is insufficiently investigated, it is the aim of this study to deploy a measurement method that allows to record MS as a function of pressure, temperature and cooling rate. Taking the hot working tool steel AISI H11 (X37CrMoV5-1, 1.2343) as the reference material, in this study for the first time the method of an in-situ electrical resistivity measurement was used to measure MS within a HIP. To investigate the influence of HIP pressure on Ms, resulting microstructures and hardness, specimens were austenitized at a temperature of TAUS = 1050 °C for tAUS = 30 min at pAUS = 25, 50, 100 or 150 MPa. Additionally, the MS temperature of the same material was determined by quenching dilatometry at ambient pressure for comparison purposes. Characterization of microstructures was conducted by scanning electron microscopy while hardness as an important technological property of tool steels was measured according to the Vickers method. Furthermore, the CALPHAD method was used to compute the thermodynamic influence of pressure on phase stabilities. The experimental results indicate that the method of in-situ resistivity measurement can be used to measure MS during an integrated HIP heat-treatment process. Besides, a stabilizing effect of pressure on the close packed crystal structure of the austenitic fcc phase is clearly detected, resulting in a reducing influence on the MS temperature of AISI H11 by up to 90 K.