Highly nitrogen alloyed austenitic steels are characterised by a combination of high strength, excellent ductility, good corrosion resistance and non-magnetic behaviour. Thus, these kind of steels be used for many different applications as e.g. for drill collars. Due to the formation of precipitates during processing and heat treatment, their properties are diminished significantly. Thus, a deep understanding of the precipitation behaviour is of vital importance. In the present diploma thesis 6 high-alloyed Cr-Mn-Mo-Ni-N-steels were investigated. For the characterization of the precipitation kinetics time-temperature-precipitation diagrams were recorded by means of isothermal and continuous cooling experiments in a furnace and a quenching dilatometer. For the characterization of the microstructure optical light microscope, scanning electron microscope and transmission electron microscope were used. The results revealed that Mo promotes the formation of precipitates, whereas the addition of Ni and N leads to retardation. Furthermore, it was found out that thermodynamics equilibrium calculations performed with ThermoCalc do not match the experimental results.