We studied the effect of Cu addition on the hardness of ultra-low carbon steels heat treated with different cooling rates using thermal simulation techniques. The microstructural evolution, Cu precipitation behaviors, variations of Vickers hardness and nano-hardness are comparatively studied for Cu-free and Cu-bearing steels. The microstructure transforms from ferritic structure to ferritic + bainitic structure as a function of cooling rate for the two steels. Interphase precipitation occurs in association with the formation of ferritic structure at slower cooling rates of 0.05 and 0.2 °C/s. Coarsening of Cu precipitates occurs at 0.05 °C/s, leading to lower precipitation strengthening. As the cooling rate increases to 0.2 °C/s, the interphase and dispersive precipitation strengthening effects are increased by 63.9 and 50.0 MPa, respectively. Cu precipitation is partially constrained at cooling rate of 5 °C/s, resulting in poor nano-hardness and Young’s Modulus. In comparison with Cu-free steel, the peak Vickers hardness, nano-hardness and Young’s Modulus are increased by 56 HV, 0.61 GPa and 55.5 GPa at a cooling rate of 0.2 °C/s, respectively. These values are apparently higher than those of Cu-free steel, indicating that Cu addition in steels can effectively strengthen the matrix.