Step 1: Understanding eutectoid steel transformation.
Eutectoid steel at room temperature mainly consists of pearlite. When it is heated above the eutectoid temperature (around 727$^\circ$C), it transforms into austenite.
Step 2: Definition of austenitizing.
Austenitizing is the heat treatment process in which steel is heated to a temperature where its structure becomes fully austenitic.
Step 3: Elimination of other options.
(B) Carburizing: Involves addition of carbon to the surface.
(C) Decarburizing: Removal of carbon from the surface.
(D) Nitriding: Addition of nitrogen to improve surface hardness.
Step 4: Conclusion.
Therefore, the transformation of eutectoid steel to austenite is called austenitizing.