In recent years, severe plastic deformation has attracted the most attention as a way to improve the mechanical properties of steel bars. Obtaining ultrafine grains and nanostructures in such bars leads to a strong increase in strength properties but strongly reduces their plastic properties. This study shows that the formation of a gradient microstructure allows simultaneous improvement in the strength and plastic properties of carbon steel bars, taking into account the symmetry of the microstructure distribution from the center of machining. A new combined technology is proposed to obtain such a microstructure. This technology consists of drawing bars from medium carbon steel on a radial-displacement rolling mill and carrying out subsequent drawing. Steel bars with a diameter of 30 mm were strained in three passes to a diameter of 16 mm at room temperature. The results show that the average value of microhardness in the center, neutral, and surface areas for the three straining cycles were 1890 MPa, 2335 MPa, and 2920 MPa, respectively. This symmetrical distribution of microhardness confirms the gradient microstructure. Strength characteristics also increased almost twofold: the yield strength increased from 330 to 735 MPa, and the ultimate strength increased from 600 MPa to 1025 MPa. Relative elongation decreased from 18 to 14 MPa, and relative reduction decreased from 40 to 31%, but remained at a fairly good level for AISI 1045 steel. The validity of all results was confirmed through numerous experiments using a set of traditional and modern research methods, which included optical, scanning, and transmission microscopy. EBSD analysis allowed precise positioning of the field of vision for studying microstructural changes across the entire bar cross-section. All of these methods used together, including tensile testing of the mechanical properties and the fractographic method, allow us to assess changes in microhardness and the reproduction of results.