The oxidation kinetics of forged 12Cr-MoVW steel was investigated in an air (N2+O2) atmosphere at 873-1073 K (Δ50 K) using thermogravimetric analysis. The oxidized samples were characterized using X-ray diffraction, and the surface and cross-sectional morphologies were examined using scanning electron microscopy coupled with energy-dispersive X-ray spectroscopy. The forged 12Cr-MoVW steel samples exhibited parabolic behavior and a low oxidation rate compared with their as-cast counterparts. A protective oxide layer was uniformly formed at relatively low temperature (≤973 K) for the forged samples, which thus exhibited better oxidation resistance than the as-cast ones. These oxides are considered solid-solution compounds such as (Fe, Cr)2O3.