Explosively bonded composites were prepared, of commercial pure titanium to two kinds of very low carbon steel (0.005mass%C and 0.03mass%C). A microstructure of the bonded interface zone was investigated by a transmission electron microscopy (TEM) and an energy dispersive X-ray spectrometer (EDX), and reaction products in this zone were identified by selected area electron diffraction patterns. Both of as-bonded and heat-treated specimens were used. As a result, in the as- bonded specimens an amorphous bonded interface zone was formed, whose width was in range of 0.05μm to 0.2μm. In same zone, however, intermetallic compounds such as FeTi, Fe2Ti and TiC, were not observed. On the other hand, in the bonded zone of heat-treated specimens, intermetallic compounds of FeTi and Fe2Ti were identified by EDX analysis, where the FeTi phase, however, was found to be amorphous-like phase from TEM observation. The TiC phase was observed at the specimen heat-treated at 850°C for 20h.