The effect of the role of alloyed components on the densification of two kind of high speed steel (mixed and prealloyed powder), which were sintered at 1403~ 1573 K for 7.2 ks in vacuum, was investigated. The results obtained were as follows. (1) Without the presence of Vanadium (V), the relative density of sintered compacts (Ds) could not reached the density of 100% regardless of the. elements in the compacts. (2) The addition of V up to 2 mass% did not result In the complete densification when the carbon content was fixed at 2% in the compact. (3) With the fixed amount of V of 7%, Ds decreased with the increase of the carbon content. (4) The addition of mixed fine powder to the prealloyed powder in the range of 20 to 40% provided the complete densification and carbide panicles of 1~2 $mu extrm{m}$ through the solid phase sintering. (5) The V element played important role in controlling the complete or incomplete densification of the sintered compacts in the alloyed component because of its formation of stable oxide and carbide as well as the low equilibrium pressure of CO gas.