In this research, the effect of strain path and short-term post-annealing on the microstructure, texture, and mechanical anisotropy of low-carbon steel was investigated. Asymmetric unidirectional rolling (AUR) and asymmetric cross rolling (ACR) were applied on Fe-0.072C steel. The ACR-processed sheet revealed a very limited number of new grains compared to the AUR-processed sheet, which was due to the dynamic recovery induced by strain path change. The average ferrite grain size of the post-annealed AUR- and ACR-processed samples was 11.5 and 14.1 μm, respectively. The dominant recrystallization in the annealed AUR-processed sheet was discontinuous static recrystallization, while that in the annealed ACR-processed sheet was continuous static recrystallization. The weak typical rolling textures (γ-fiber and α-fiber) at the midthickness of both rolled sheets demonstrated that the shear deformation effectively contributed to the formation of the shear textures during asymmetric cold rolling. The ACR decreased the intensity of the overall texture more than the AUR process due to the changes in the reference frame of deformation after each pass, which destabilized ideal texture components. The results showed that Goss and {111}〈112〉 components were continuous and discontinuous static recrystallization textures in the asymmetrically cold-rolled low-carbon steel sheet during the annealing treatment, respectively. The annealed AUR-processed sheet revealed a weaker texture as compared to the annealed ACR-processed sheet. The significant changes in the preferred orientations of the annealed AUR-processed sample led to weaker texture intensity compared to the annealed ACR-processed sheet. The hardness of the annealed AUR-processed sheet (183.8 HV) was higher than that of the annealed ACR-processed steel (156.9 HV), which was owing to the larger grain size and also the elimination of the γ-fiber texture in the annealed ACR-processed sheet. The strength along the rolling direction was lower than that along the transverse direction in the AUR-processed sheet. However, in the ACR-processed sheet, the values of strength were similar along three different tensile directions. As an important conclusion, if both high-strength and low-anisotropy are needed in the low-carbon steel sheets, it's better to apply ACR rather than AUR. In addition, if both high toughness and low anisotropy are essential, it's better to use AUR followed by post-annealing rather than ACR + post-annealing. The length of the intermediate stage of work hardening in the annealed ACR-processed sample was much less than the annealed AUR-processed sheet due to the presence of harder orientations (〈111〉 and 〈110〉) along rolling and transverse directions in the annealed ACR-processed sample. Finally, the fracture behavior of deformed and post-annealed steel sheets for both strain paths was ductile and shear ductile.