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The microstructure and the resulting mechanical properties of Twin Roll-Cast (TRC) AZ31 strips have been investigated after rolled from thickness of 5.2 mm to 1.00 mm and 1.25 mm, respectively. Twin-Roll-Casting (TRC) was used to produce AZ31 strips with a near-net final thickness directly from the liquefied material. The two-stage rolling experiments were carried out on the four high reversing mill at the Institute of Metal Forming in Freiberg. The first stage was two roughing passes followed by intermediate annealing. The second stage was subsequent finish rolling with 1 to 3 rolling passes. The influence of the finish-rolling on the properties of the final strip was investigated, including the variations of rolling pass and pass reduction. The TRC strip exhibits a heterogeneous microstructure with random texture due to a deformed structure combined with partial cast columnar and equiaxed grains. Significant grain refinement was achieved using high deformation degree per pass (> 30 %). Increasing rolling passes to 3 during finish-rolling reduces the strain per pass and also leads to a temperature drop so that incomplete dynamic recrystallization after the final rolling pass occured, leading to a more coarse and heterogeneous microstructure. It was found, that a 2-pass finish rolling provides the optimum strategy for the material properties as well as the process stability. Due to homogeneous fine grained microstructure, the 2-pass rolled strip showes high mechanical properties with low anisotropy. This includes yield point of 234 MPa, tensile strength of 285 MPa and total elongations of 25 %.