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The paper reports the results of an investigation of structure formation in the eutectic chromium–vanadium cast iron coating deposited by electron–beam hardfacing (EBH) and subjected to multipoint pulsed electron–beam treatment (MPEBT) of the surface layers. The coating material structure in the zones modified by MPEBT changes considerably, showing the presence of a large amount of supersaturated austenite matrix and eutectic colonies in the form of fine isolated inclusions. The eutectic colonies are fan–like. The leading phase in the eutectic colonies is vanadium carbide. After aging within the temperature range from 900 to 1100°C the structure of the modified zones exhibits a large amount of fine secondary carbides Cr7C3 rejected from the matrix. The secondary carbides are uniformly distributed in the bulk of the modified zones. The matrix after aging undergoes ?>? transformation and mainly has the martensitic structure. Aging increases significantly the hardness of the modified zones and abrasive wear resistance of the entire coating.