To elucidate the effects of alloying elements on the characteristics of microstructure and high temperature oxidation of cast austenitic stainless steel, a thermodynamic calculation, a cyclic oxidation test, a X-ray diffraction, a scanning electron microscopy-back scattered electron, a electron probe microanalysis were conducted. The thermodynamic calculation for the effect of vanadium (V) addition on the formation of various precipitates leads to a decrease of chromium (Cr)-rich $M_{23}C_6$ carbides due to the formation of M (C, N) carbo-nitrides containing V and / or niobium (Nb). The V added alloy increased the resistance to high temperature oxidation due to a decrease of Cr-depleted zone deteriorating the oxidation resistance and due to the V-enriched oxide layer formed in inner oxide layer blocking the outward transport of cations.