In this study, the effects of heat treatment on the microstructures and mechanical properties of powder metallurgy (PM) Nb-V microalloyed steels (Fe + 0.25%C + 0.075%Nb + 0.075%V) were investigated. Argon gas was used as sintering atmosphere. The microstructure and mechanical properties of the Nb-V added PM microalloyed steel were examined by optical microscopy, scanning electron microscope (SEM) and tensile tests. Experimental results showed that microalloyed steels can be produced by PM technology and the heat treatment affects the microstructure and mechanical properties of microalloyed PM steel. Nb-V microalloyed steels were heat treated under different conditions. Microstructures and tensile strengths of the samples were compared.