High speed steels with high V content (HVHSS, 10 mass % of V) were fabricated by a process of pressing plus super solid-liquid phase sintering (SLPS) with atomized alloy powder as raw material. The effect of sintering parameters such as sintering temperature and holding time on densification, microstructure evolution as well as mechanical properties were systematically investigated, and the composition, morphology and distribution of the phases existed in the alloy were carefully analyzed. The results show that sintering temperature is the most important parameter affecting the performance of the sintered alloys, however holding time shows the main effect on the precipitation and evolution of carbides. The matrix of the as prepared HVHSS consists of acicular martensite and retained austensite, and there are three types of carbides, i.e. VC, complex molybdenum carbide and complex chromium carbide. Small spherical VC particles mainly distribute in the grains and along their boundaries. As sintering temperature and holding time increased, not only grains and carbides gradually coarsened but also more and more carbides precipitated. However, the precipitation of complex carbides deteriorates the alloy’s strength and toughness due to their poor morphology which cause serious stress concentration or forming carbide network along grain boundaries. The HVHSS possess high performance, such as hardness HRC 65-68, impact toughness and bending strength over 6 J/cm² and 1800 MPa respectively.