Tool steels are a special class of alloys designed for tool and die applications. High-speed steels are a subset of tool steels designed to operate at high speeds. This chapter describes the composition, properties, heat treatment, and use of wrought and alloyed tool steels, high-speed steels, and their counterparts made by powder metallurgy. It includes information on the chemical composition and application range of many commercial tool steels and explains how to apply coatings that reduce friction, thermal conductivity, and wear.