Precipitation of carbides after tempering of a medium carbon low alloyed Cr-Mo-V tool steel at 600 degrees C was studied with scanning precession electron diffraction (SPED) in a transmission electron microscope (TEM). The precipitation sequence was evaluated by mapping the carbide distribution on carbon extraction replicas prepared from samples tempered for different durations of up to 24 h. The SPED results were supplemented by equilibrium calculations and energy dispersive x-ray spectroscopy (EDX) measurements in a TEM. It was found that e-Fe2C precipitates within martensite laths during quenching via auto-tempering. During reheating to tempering temperature e-Fe2C was dissolved and replaced by cementite, 0-M3C, which predominately form on martensite boundaries. It was further found that the small carbides in the early stage of tempering have predominantly a cubic MC structure, even if the V/Mo-ratio of the studied steel was only 0.12, and it is known from literature that V and Mo form cubic MC or hexagonal M2C carbides, respectively. Later during tempering more stable carbides, such as M7C3 and M23C6, also form, and it was concluded that the M7C3 form both by separate nucleation and precipitation on the cementite/matrix interface. The latter phenomenon was seen as particles with a core of cementite and a shell of M7C3 after 24 h of tempering.