Effects of finishing rolling temperatures and reduction on the mechanical properties of hot rolled multiphase steel were investigated. Thermo-mechanical control processing (TMCP) was conducted by using a laboratory hot rolling mill, in which three different kinds of finishing rolling temperatures and reduction and various austempering times were applied. The results showed that polygonal ferrite, granular bainite and larger amount of stabilized retained austenite can be obtained by controlled rolling processes, and that the strain-induced transformation to martensite from the retained austenite can occur gradually when the steel is deformed during tensile test. Mechanical properties increase with decreasing finishing rolling temperature and increasing amount of deformation. The most TRIP (transformation induced plasticity) effect, and ultimate tensile strength (UTS), total elongation (TEL) and the product of ultimate tensile strength and total elongation (UTS×TEL) are obtained at 20 min. Effects of finishing rolling temperatures and reduction on the mechanical properties of hot rolled multiphase steel were investigated. Thermo-mechanical control processing (TMCP) was conducted by using a laboratory hot rolling mill, in which three different kinds of finishing rolling temperatures and reduction and various austempering times were applied. The results showed that polygonal ferrite, granular bainite and larger amount of stabilized retained austenite can be obtained by controlled rolling processes, and that the strain-induced transformation to martensite from retained austenite can tolerated gradually when the steel is deformed The most TRIP (transformation induced plasticity) effect, and ultimate tensile strength (UTS), total elongation (TEL) and the product of ultimate tensile strength and total elongation (UTS × TEL) are obtained at 20 m in.