Tools and their maintenance costs in hot forging processes account for a considerable proportion of the total components' costs. Forging tools undergo extreme heating and subsequent cooling during the forging process and between the forging cycles, respectively. This cyclic heating and cooling of the tool surfaces leads to local changes in the tool microstructure which result in hardening or softening of the material in different regions of the tool and consequently influence the tool strength. Temperature in the tool areas experiencing high thermo-mechanical loadings can exceed the austenitic temperature. Hence, a strong cooling, for example by spraying or lubrication, can lead to formation of a martensitic layer in the boundary zone of the tool. Due to its higher hardness, martensitic layer has greater resistance to wear as compared to the basic or tempered materials. In the scope of this paper, the austenitisation behaviours of two high alloyed hot-work tool steels, 1.2343 and 1.2367, have been characterized by means of dilatometer tests to obtain time-temperature-austenitisation (TTA) diagrams for specimen under thermo-mechanical loads. Moreover, continuous-cooling-transformation (CCT) diagrams were recorded. Metallographic investigations were carried out to gather a detailed understanding of the microstructure behaviour and its resulting hardness. With the results of this works, it is aimed to gather a detailed and accurate insight into the arising hardening and softening effects. This would eventually lead to an optimisation of the numerical modelling for tool wear prediction.