The cold rolling and intermediate annealing process, along with the incorporation of rare earth elements, play an important role in the microstructure, texture, and inhibitors of oriented silicon steel. Currently, there is limited research on the impact of rare earth yttrium on texture evolution during the cold rolling and intermediate annealing processes. Therefore, the effects of different cold rolling deformations and intermediate annealing temperatures on the microstructure and texture of Y bearing oriented silicon steel have been studied. The experimental results demonstrate that the average grain size of the intermediate annealed plate progressively decreases with increasing the cold rolling deformation. This is because the high cold rolling deformation brings more additional dislocations and distortions, consequently enhancing the driving force for recrystallization. Observing the microstructure with various cold rolling deformation, the results show that the annealed plate with a 72 % reduction rate exhibited the highest Goss texture percentage of 4.83 %. This is because the cold-rolled sheet with a reduction rate of 72 % exhibits an abundance of Goss oriented substructures. These substructures quickly dominate the {111}<112> deformed matrix during the initial recrystallization, and promote grains nucleation and growth. As the annealing temperature increases, the driving force for the growth of recrystallized grains also increases, leading to a gradual increase in grain size. The plate annealed at 940 °C exhibits the highest percentage (4.83 %) of Goss texture. The addition of rare earth Y can lead to an increase in grain size in the intermediate annealed plate and facilitate the formation of {411}<148> texture. This is advantageous for the abnormal growth of Goss texture. The results demonstrate that a cold rolling deformation rate of 72 % and an intermediate annealing temperature of 940 °C are good for promoting abnormal growth of Goss orientation. The study results on precipitation kinetics suggests that the grain boundary nucleation of AlN and dislocation nucleation of MnS are the most effective way of nucleation. The precipitates in oriented silicon steel without Y are Al2O3 and MnS, while those in the samples with Y are AlN, YS, and YOxSy. The addition of rare earth Y leads to a reduction in both the density and size of precipitates. Moreover, With the increase of annealing temperature, the size of precipitates decreases and the amount of precipitates increases. Additionally, the addition of Y makes the steel more clean, meanwhile, the pinning effect of inclusions on grain boundaries is weakened. Therefore, the grain size of the steel with Y is larger.