The microstructure of Ti+P IF steel were studied after warm rolling, cold rolling and recrystallization using X-Ray, TEM and SEM. The results show that the characteristics of warm rolled sheet are the same as that of the cold rolled, but the texture displays different characteristics in the subsequent cold rolling and recrystallization because of the numerous second-phase particles. In this work, a Ti+P IF steel sheet with high strength and plastic strain ratio was obtained.