Due to its combination of high mechanical properties, good formability, and low production cost, steel is a key material with potential for improvement in the metallurgical industry. Based on these conditions, this research evaluated the influence of material composition and incomplete austenitization parameters on the final metallurgical and mechanical properties of high-strength microalloyed steels after cooling in a medium with high severity. The applied cycle was based on the intercritical thermal treatment of microalloyed steels with niobium (Nb) and titanium (Ti) to increase the mechanical resistance and guarantee the tenacity of the material. An experimental study was carried out testing three intercritical temperatures, 806 °C, 775 °C, and 740 °C, with subsequent cooling in polymeric solutions in water. The studies showed that the intercritical temperature variation directly contributed to the difference in the second phase microstructure present in the samples. The heat treatment findings resulted in a microhardness of 434.2 HV0.01, characterizing the low-carbon martensite. The presence of a matrix consisting of ferrite and a second phase of low-carbon martensite promoted the typical behavior of dual phase steel. In the x ray diffraction, the presence of retained austenite was not evidenced, indicating the efficiency of the cooling rate. The experiments confirmed the influence of different engineering parameters and intercritical treatment on the mechanical properties. The study enriches the current knowledge about the development of variables for the development of dual phase steel from microalloying elements.