The present thesis gives an overview of carbide aggregates (interphase precipitation and carbide fiber) in vanadium-alloyed steels, covering the aspects of microstructure, modeling, and mechanical properties. The microstructural features of different carbide aggregates by the use of microscopies, and the transition of carbide morphologies is discussed. A new model considering the ledge mechanism as well as austenite decomposition is subsequently proposed according to the observed microstructure. The sheet spacing, particle spacing, and interface velocity, can be calculated and show good agreements with experimental data. Finally, the effect of interphase-precipitated carbide distribution (sheet spacing, particle spacing, and carbide radius) on Orowan strengthening contribution is examined by nano-indentation. By the virtue of small indenter, the mechanical properties of single ferrite grain are able to be extracted.Keyword: