Microstructure and mechanical properties of hot rolled steel plate strengthened complexly by titanium and molybdenum at different final rolling temperature and coiling temperature were studied by optical microscope (OM) and material testing machine. The precipitation behaviors of precipitates phase were obtained using transmission electron microscope (TEM) with EDS analysis. The results showed that at final temperature 850°C, microstructure of experimental steel were fine, uniform polygonal ferrite and acicular ferrite. With the coiling temperature decreasing from 620°C to 580 °C, the grain of polygonal ferrite became finer, and the amounts of acicular ferrite became more; precipitates phase mainly maintained both coarse TiN and small square round sheet (Ti,Mo)C. On the condition of the final rolling temperature (850°C) and coiling temperature (580°C), experimental steel acquired properties as follows: yield strength 608 MPa, tensile strength 720 MPa, elongation 24%. Ti-Mo composite strengthening effect had achieved, and significantly improved the strength of ferrite steel.