The paper presents properties of HS6-5-2 high speed steel subjected to deep cryogenic treatment (DCT) and subsequent tempering at different temperatures. DCT process of HS6-5-2 steel leads to shifting of maximum hardness peak to the lower temperature and the reduction of the obtained maximum hardness by about 1 HRC. These changes in hardness may be due to the shifting of the stage of nucleation and growth of carbide phases to lower temperatures or the changes taking place in the matrix, connected with the additional transformation of the martensite proceeding during the isothermal martensitic transformation occurring at cryogenic temperatures and more extensively occurring precipitation processes, lowering the content of the carbon in the martensite, determining thereby its lower hardness.