The combination of ART and Flash annealing has been utilized to enhance the mechanical properties of medium Mn AHSS, demonstrating significant effectiveness. However, the industrial application was constrained by the absence of research on the impact of critical processing variables. In this work, the peak temperature of the flash heating was varied in the intercritical field to manipulate the microstructure and mechanical response of a 5 wt% Mn steel. The mechanisms of microstructural evolution during heat treatment and deformation were thoroughly discussed through interrupted tensile testing. A collection of ultrafine multiphase structures, consisting of retained austenite (RA), ferrite, and martensite with flexible phase constituents, were constructed, resulting in an ultrahigh YS increment (∼450 MPa) and exceptional strength-ductility combination (YS: 1125 MPa, UTS: 1544 MPa, TE: ∼21 %). The significant strengthening is primarily attributed to the increase in α′-martensite, while the sustained TRIP effect induced by stable retained austenite is responsible for the appropriate ductility. The interaction between austenite and adjacent phases and grain size exhibit a crucial influence on the mechanical stability of austenite. Benefiting from the “shielding” effect provided by the surrounding martensite, the Flash-810 sample achieved great ductility, despite possessing only a 5 % volume fraction of retained austenite. The YS of the experimental steels is sensitive to peak temperature, while the UTS and ductility remains relatively stable. Our work suggests the substantial potential of intercritical flash heating in enhancing the mechanical response of medium Mn steels and the profound significance of controlling the peak temperature.