With TEM、SEM, various high-temperature deformed structures inW9Mo3Cr4V steel were investigated. The sub-structures,recrystallized nuclei, as well as the dynamic precipitation were also studied and analyzed. The relationship between recrystallized structures and dynamic precipitation was discussed. The results showed that the deformed structures in W9Mo3Cr4V steel are more complicated than those in low alloy steels. Because W9Mo3Cr4V steel is a high-speed steel, there are a large number of residual carbides on the matrix. Also, much dynamic precipitating carbides will precipitate during deformation at high temperature.