The spray forming is the formation of molten metal or alloy in an inert atmosphere atomized into a small solid,semi-solid or liquid melt jet,spray directly to the cooler substrate surface,the droplets adhere,pile up,spread,fuse and solidify on the surface of the depositor to form the deposited billet.HSF680 high speed steel ingot was produced by spray forming,and the microstructure and composition of annealed ingot were examined by SEM,metallographic microscope and direct reading spectrometer.The difference of composition and microstructure from edge to center,volume density and gas content in different positions were compared.The results show that the composition segregation of HSF680 ingot from edge to center is small,the difference of carbon element is 0.009%,the segregation of vanadium element is controlled within 0.015%,the average bulk density of ingot is 7.21 g/cm3,which is close to the theoretical density The microstructure of MC carbide is uniform and fine,which is pre-eutectic carbide and ferrite,and the size of MC carbide is 5.8 μm-7.1 μm-9.0 μm-9.7 μm from edge to center due to the influence of cooling factor The content of vanadium in MC carbide varies from 49.76%to 60.25%,the content of oxygen is less than 25 ppm and the inclusion is DS1,which meets the requirement of national standard.