The paper provides an overview of the impact of alloying and microalloying elements on the carbides in high-speed steel. It discusses the formation, morphology, and distribution of various types of carbides, including MC, M2C, M3C, M4C, M6C, M7C3, M23C6, and M2C3. The effects of alloying elements such as carbon (C), tungsten (W), molybdenum (Mo), chromium (Cr), and vanadium (V) on carbide formation are detailed, highlighting how these elements influence the type, size, and distribution of carbides. Additionally, the paper reviews the impact of microalloying elements like nitrogen (N), boron (B), magnesium (Mg), and rare earth (RE) elements on carbide improvement. Microalloying elements are shown to enhance carbide dispersion, promote the formation of fibrous or rod-like M2C, and refine M2C. The paper also discusses the future research directions, emphasizing the importance of controlling carbide size, shape, distribution, and type to improve the performance of high-speed steel. The introduction of powder metallurgy and electroslag remelting technologies is highlighted as key advancements in manufacturing processes that can further enhance carbide quality and distribution.The paper provides an overview of the impact of alloying and microalloying elements on the carbides in high-speed steel. It discusses the formation, morphology, and distribution of various types of carbides, including MC, M2C, M3C, M4C, M6C, M7C3, M23C6, and M2C3. The effects of alloying elements such as carbon (C), tungsten (W), molybdenum (Mo), chromium (Cr), and vanadium (V) on carbide formation are detailed, highlighting how these elements influence the type, size, and distribution of carbides. Additionally, the paper reviews the impact of microalloying elements like nitrogen (N), boron (B), magnesium (Mg), and rare earth (RE) elements on carbide improvement. Microalloying elements are shown to enhance carbide dispersion, promote the formation of fibrous or rod-like M2C, and refine M2C. The paper also discusses the future research directions, emphasizing the importance of controlling carbide size, shape, distribution, and type to improve the performance of high-speed steel. The introduction of powder metallurgy and electroslag remelting technologies is highlighted as key advancements in manufacturing processes that can further enhance carbide quality and distribution.