The advanced hot-rolled transformation induced plasticity (TRIP) steel with high tensile strength of 775 MPa,high elongation of 29% and low ductile-brittle transmission temperature less than -80℃ has been developed in laboratory based on the common silicon and manganese chemical composition. The experimental results showed that the microstructures were featured with ultra fine grain size less than 5μm, appropriate retained austenite volume fraction around 11.8% andpurified ferrite grain, which may result in well balanced mechanical properties for the steel.