Development and use of high-speed steels for manufacturing the roll outer shell of hot strip mills represented a major recent technological advancement in the hot rolling field. However, it was observed that the oxidation behavior of these steels was different from that of conventional rolls. The high-speed steel oxidation rate is about four times higher than the alloys previously used. Furthermore, the rolling conditions are quite aggressive. Contact of the roll with the hot strip, air and water of the cooling system is expected to increase the oxidation of the roll surface in this wet atmosphere. Therefore, it is necessary to study their oxidation behavior in order to achieve the full potential of high-speed steel rolls for hot strip mills. In the present work, the oxidation behavior of three high-speed steels with differences in chromium content was studied. Corrosion tests were carried out in a thermobalance under dry and moist (12.5 % H2O) atmospheres at 765oC for 240 minutes. The corroded samples were examined by X-ray diffraction, scanning electron microscopy and energy dispersive micro-analysis. It was found that the variation of chromium content of the high-speed steels studied was sufficient to influence the oxidation behaviour. Samples with high chromium contents presented smallest final mass gain. The presence of humidity had a significant effect on the oxidation behavior.