Deep levels in as-grown p-type 4H-SiC epilayers have been investigated by DLTS. Three deep hole traps (HK2, HK3 and HK4) can be detected by DLTS in the temperature range from 350K to 700K. They are energetically located at 0.84 eV (HK2), 1.27 eV (HK3) and 1.44 eV (HK4) above the valence band edge. The activation energy of the traps does not show any meaningful change regardless of applied electric field, indicating that the charge state of the deep hole traps may be neutral after hole emission (donor-like). By the low-energy electron irradiation, the HK3 and HK4 concentrations are significantly increased, suggesting that the origins of the HK3 and HK4 may be related to carbon displacement. Study on the thermal stability of these hole traps has revealed that the trap concentrations of HK3 and HK4 are reduced to below the detection limit (1-2 × 1011 cm-3) by annealing at 1350°C. The HK2 is thermally more stable than HK3 and HK4, and becomes lower than the detection limit by annealing at 1550°C.