In this study, in order to obtain complete size distribution results, the maximum carbide size in a Fe-17 mass% Cr-4 mass% C hypereutectic High Chromium Cast Iron (HCCI) produced with different cooling conditions, titanium additions and heat treatment conditions was determined by using the statistics of extreme values (SEV) method. In addition, the shape factor, circularity, was estimated in order to classify the type of carbides (primary M7C3 carbides, TiC carbides and secondary M7C3 carbides). Compared to the smaller size carbides, such as TiC carbides and secondary M7C3 carbides, it was found that the slope of the extreme value distribution (EVD) regression lines is lower for the large sized carbides such as primary M7C3 carbides than for the smaller carbides. Moreover, it was found that the circularity value for the larger size carbides is higher than for the smaller carbides. Furthermore, the estimated and observed maximum carbide sizes were compared with each other for all carbide types. The characteristic of the different carbide types are summarized and classified based on the shape factor. Finally, the relationship between the carbide size distribution including the maximum carbides size and mechanical properties is discussed based on the combination of a size distribution analysis and a maximum size analysis.