The present study was investigated changes of precipitation behaviour of laves phase in ferrite single phase and ferrite-martensite dual phase and the mechanical properties of 10%Cr ferritic alloys. In the ferrite phase, laves phase was mainly precipitated, whereas in the martensite phase, carbide was preferentially formed during the initial stage of aging and with increasing aging time. Laves phase and carbide were simultaneously precipitated by precipitation of laves phase at around carbide. Strength and toughness were lowered by the disk-type precipitator in the initial stage of aging and toughness was recovered with increasing of aging time and then, decreasing by precipitation of laves phase.