The relationship between mechanical properties and pearlite microstructure was investigated using various heat treatments on a hypereutectoid steels containing 1% carbon with different levels of vanadium and silicon. Specimens were heat treated at various temperatures ranging from 900 to 1200°C and transferred to salt bath conditions at 550, 580 and 620°C to examine the structural evolution of pearlite. The results show that the thickness of the cementite network increases with increasing reheat temperature. This is likely due to the larger austenite grain size reducing the grain boundary area available for proeutectoid cementite nucleation. It was found that the vanadium and silicon additions increased the strength of hypereutectoid steels through refinement of the microstructure and precipitation strengthening.