The principle and possibility of alloying of high speed steel W6Mo5Cr4V2 (M2) with CaWO 4 MoO 3 V 2O 5 during the steelmaking are discussed, experiments of the alloying technologcial process have been carried out, the properties of M2 product have been determined, the benefit have been analysed. The results show that the rate of recovery of W Mo V are respectively 97.08%, 96.51%, 93.79% during the steelmaking of M2 alloying with CaWO 4 MoO 3 V 2O 5 in induction furnace, the chemical composition and properties of product M2 can meet the demands that the standard of high speed steel M2 requires.