A novel low-alloy ultrahigh-strength steel featuring excellent mechanical properties and comprising a nanolath structure was fabricated in this work using a quenching–partitioning–tempering (Q-P-T) process. The Q-P-T process comprised direct quenching and an isothermal bainitic transformation for partitioning after thermo-mechanical control processing (online Q&P) and offline tempering (reheating and tempering). The ultrafine nanolath martensite/bainite mixed structure, combined with residual austenite in the form of a thin film between the nanolaths, was formed, thereby conferring excellent mechanical properties to the steel structures. After the Q-P-T process, the yield and tensile strengths of the steels reached 1450 MPa and 1726 MPa, respectively. Furthermore, the Brinell hardness and elongation rate were 543 HB and 11.5%, respectively, with an average impact energy of 20 J at room temperature.