In Nb, V and Ti added steels, carbo-nitrides are formed due to their strong interaction with C and N. The formation of carbo-nitrides has an important role to control the microstructure as well as mechanical properties by grain size refinement and precipitation hardening. However, the quantitative analysis of distribution of precipitates and the effect of precipitates on the phase transformation and mechanical properties are still far from satisfactory. In this study, the quantitative analysis of precipitates in austenite was investigated using the fact that the formation of precipitates in Nb, V and Ti added steels accelerates austenite/ferrite transformation. The formation of precipitates was controlled by adjusting holding temperature and time in austenite region, transformed Volume fractions were measured by dilatometer during slow cooling, Iso-precipitation kinetics were determined by comparing 5% and 50% volumes transformed at various conditions respectively. The result was compared with the calculated.