Application of deep cryogenic treatment instead of conventional heat treatment showed an increase in wear resistance of tools made of high speed steel which are exposed to very complex and demanding conditions in exploitation. The purpose of this study was to investigate the effect of deep cryogenic treatment in combination with plasma nitriding on the tribological properties of powder metallurgy high speed steel, grade PM S390 MC. On treated specimens hardness and fracture toughness was determined, the resistance to intensive adhesive wear (galling) and dry sliding wear (dry sliding wear resistance) were also tested. Test results show that deep cryogenic treatment in combination with plasma nitdriding contributes to better abrasive wear resistance and better galling properties of tested powder metallurgy high speed steel.