A good selection of the thermomechanical processing parameters will optimize the function of alloying elements to get the most of mechanical properties in Advanced High-Strength Steels for automotive components, where high resistance is required for passenger safety. As such, critical processing temperatures must be defined taking into account alloy composition, in order for effective thermomechanical processing schedules to be designed. These critical temperatures mainly include the recrystallization stop temperature (T5%) and the transformation temperatures (Ar1, Ar3, Bs, etc.). These critical processing temperatures were characterized using different thermomechanical conditions. T5% was determined through the softening evaluation on double hit tests and the observation of prior austenite grain boundaries on the microstructure. Phase transformation temperatures were measured by dilatometry experiments at different cooling rates. The results indicate that the strain per pass and the interpass time will influence the most on the determination of T5%. The range of temperatures between the recrystallized and non-recrystallized regions can be as narrow as 30 °C at a higher amount of strain. The proposed controlled thermomechanical processing schedule involves getting a severely deformed austenite with a high dislocation density and deformation bands to increase the nucleation sites to start the transformation products. This microstructure along with a proper cooling strategy will lead to an enhancement in the final mechanical properties of a particular steel composition.