摘要： The present work focuses on the peritectic reaction and transformation in a commercial hypo-peritectic steel. This multiple phase transformation was studied by means of the high temperature confocal scanning laser microscopy (HTCSLM) and the di?erential scanning calorimetry (DSC) analysis. The results indicate that the technique of combining HTCSLM and DSC can e?ectively distinguish and characterize the peritectic reaction and transformation. The results of these two methods verify and complement each other in interpreting the peritectic reaction and transformation. In situ observation of HTCSLM reveals that the austenite → δ-ferrite transformation during the continuous heating ?rstly occurred around the inclusion and at austenite grain boundary. The emerging δ/γ interfaces travel through previous γ grains by a ?nger-like morphology. With further heating, the unstable liquid phase formed by the peritectic reaction transforms into the δ-ferrite phases again. These stable δ-ferrite phases subsequently melt into liquid phase. During the peritectic solidi?cation, in situ observation reveals that the peritectic reaction is ?rstly observed to occur at the junction interface of the liquid phase and δ-ferrite phase. The γ intermediate phase propagates and thickens toward the liquid phase side and the δ-ferrite phase side in the subsequent peritectic transformation. The δ-ferrite and γ phases were observed to coexist in solid phase when the peritectic transformation ?nishes. Based on the linear regression of DSC results, it is found that the activation energy of the peritectic reaction is larger than that of the other phase transformations during heating, but it is on the contrary during cooling.