The effect of austenitizing temperature on the degree of carbides re-solutionizing, mean graine size, hardness and the volume fraction of retaind austenite ($V_{\gamma}$) etc., has been studied by means of metallography, X-ray diffractometry and hardness measurement in STD 11 tool steel. As austenitizing temperature increases, the amount of alloying elements which is re-dissolved into matrix increases, resulting in increase of $V_{\gamma}$, due to the chemical stabilization of austenite. The Vickers hardness value decreases with increasing austenitizing temperature, which is attributed to grain size as well the volume fractions of $V_{\gamma}$ and carbides. Theoretical diffraction intensity of (200) ${\alpha}^{\prime}$, (211) ${\alpha}^{\prime}$ (200) ${\gamma}$ and (220) ${\gamma}$ peaks obtained by $CuK_{\alpha}$ chracteristics X-ray (${\lambda}=0.15429nm$) was calculated, and quantitative analysis of $V_{\gamma}$ could be carried out by X-ray diffraction method. The resultant value is well coincided with the value obtained by image analysis method. When the quenched specimen is tempered above $200{\sim}400^{\circ}C$ for 30 min, the transition carbides i.e., MC and $M_2C$ in the size of about 20 nm begin to precipitate at $300^{\circ}C$.