The austenite static recrystallization kinetics at several temperatures and the recrystallization-precipitation-time- temperature (RPTT) diagrams of a medium-carbon vanadium microalloyed steel have been determined for a strain ε = 0.35. Unlike many other studies carried out previously on V microalloyed steels, the recrystallized fraction against time curves showed the formation of a double plateau that indicates two stages of inhibition of recrystallization due to the formation of different types of strain induced precipitates. This work makes use of transmission electron microscopy to study the nature and size distribution of these precipitates capable of inhibiting recrystallization. The values of driving and pinning forces for static recrystallization are calculated and an analysis of the relationship between the net balance of these forces, the precipitation state and the progress or inhibition of the recrystallization is accomplished. A value of driving force that decreases as recrystallized fraction grows during isothermal holding time is estimated and helps to interpret the behavior of austenite after deformation.