Steels containing 1.65% vanadium with 0.26% carbon have been isothermally transformed in the temperature range 600-750℃. The ferrite and the two types of vanadium carbides displayed in this experiment have been examined by thin foil electron microscopy and the crystallography between ferrite and carbides has been investigated with the aid of selected area diffraction and micro-diffraction. On the contrary to the previous reports, ferrite matrix and carbide precipitates possessed the Baker Nutting orientation relationship with no difference of carbide morphologies.