Abstract: Using Gleeble-3500 thermal simulation testing machine, high temperature compression tests were performed on hot die steel 4Cr2Mo2W2V. Then properties of the steel were compared with those of the 3Cr2W8V steel and H13 steel. Combining with TEM, EDS and internal friction equipment, the steel structure, shape and size of carbides as well as elastic modulus were analyzed. The results show that compared with H13 steel and 3Cr2W8V steel, 4Cr2Mo2W2V steel had higher elastic modulus and high temperature compression performance at 700 ℃. The steel had fine martenite laths, carbides were mainly composed of small globular MC after quenching and tempering. Mn and Cr were primary dissolving in matrix, that increased the solution strengthenning effect which improved the high temperature compression performance.