Crystallographic texture and microstructure of low-alloyed steel after twist extrusion (TE) and subsequent cold rolling along and across the TE axis were studied. The double axial cylindrical texture with axes 110 and 100 parallel to the TE axis and the vortex-like microstructure are formed in the steel during the TE. The subsequent rolling of extruded steel along the TE axis promotes the forming of typical steel rolling texture as well as the microstructure with elongated grains in rolling direction. Typical steel rolling texture as well as the equiaxed microstructure is formed in extruded steel after rolling in the direction transverse to the TE axis. The mechanisms of formation of the texture are discussed.