The use of Magnetic Barkhausen Noise (MBN) as a experimental method for measuring the martensite start (Ms) temperature was explored, using as model system a cold-work tool steel (AISI D2) austenitized at a very high temperature (1473 K), so as to transform in sub-zero temperatures. The progress of the transformation was also followed with electrical resistance measurements, optical microscopy and scanning electron microscopy. Both MBN and resistivity measurements showed a change near 230 K during cooling, corresponding to the Ms temperature, as compared with 245 K, estimated with Andrews empirical equation applied to the austenite composition calculated using ThermoCalc. © 2012 Elsevier B.V.