Multiphase steels consisting of retained austenite and martensite/bainite microstructures such as TRIP, low-temperature-bainite, and Q&P steels are attractive candidates for the new-generation of AHSS. These steels exhibit a remarkable combination of strength and toughness which is essential to meet the objective of weight reduction of engineering-components, while maintaining the compromise of tough-safety requirements. Such good mechanical properties are due to the enhanced work hardening rate caused by austenite-to-martensite transformation during deformation and the strengthening contribution of martensite/bainite. The retained austenite can thermally decompose into more thermodynamically stable phases as a consequence of temperature changes, which is referred to as the thermal stability of retained austenite. TRIP-aided steel is an effective candidate for automotive parts because of safety and weight reduction requirements. The strength–ductility balance of high strength steel sheets can be remarkably improved by using transformation induced plasticity behavior of retained austenite. In manufacturing hot rolled TRIP-aided sheet steels, austenite transforms into bainite during the coiling process. Because black hot coils cool slowly after the coiling process, they are exposed at about 350–450°C for a few hours or days. Therefore, the metastable residual austenite can be decomposed into other phases. This decomposition of residual austenite can produce serious deteriorate of mechanical properties in hot rolled TRIP-aided sheet steels. The present work identified the decomposition behavior and study the thermal stability of retained austenite in the TRIP-aided steel with bainitic/ferrite matrix depending on coiling temperatures and holding times by means of DSC and XRD analysis.