Scanning electron microscopy (SEM), EBSD-analysis, and X-ray structure (XRD) analysis were used to investigate the microstructure, morphology, elemental composition, phase composition, and crystal structure of M2 high speed steel after standard thermal treatment. It has been shown that the microstructure of the M2 high speed steel after hardening and three-time tempering consists of tempered martensite and solid carbide M6C-type and MC spherical shape. The volume fraction of carbides and their distribution have been defined. The main carbides in the study of steel after heat treatment – M6C and MС carbides who have a complex FCC lattice and space group Fd3m, have been established by X-ray structural analysis. Carbides are homogeneous and single crystal. EBSD-analysis method with the support of X-ray structural analysis has established that the bright carbides spherical shape M6C correspond to the composition Fe3W3C, and grey carbides spherical shape MC correspond to the composition of the VC.