M2 high speed steel was modified by Y-K-Na,the effects of complex modification on the structures and properties of M2 cast high speed steel have been researched.The results show that the structures of modified M2 cast high speed steel by means of Y-K-Na were obviously refined,network eutectic carbides were changed into spherical.After modification,the impact toughness was increased by 70.7%,wear resistance was also increased,all mechanical properties of inoculation M2 high speed steel near to that of forging M2 high speed steel,the modified mechanism was also analyzed.