The Laasraoui segmented and Arrhenius flow stress model, dynamic recrystallization (DRX) model, grain size prediction model, and hot processing map (HPM) of Fe-Cr-Mo-Mn steels were established through isothermal compression tests. The models and HPM were proven by experiment to be highly accurate. As the deformation temperature decreased or the strain rate increased, the flow stress increased and the grain size of the Fe-Cr-Mo-Mn steel decreased, while the volume fraction of DRX (Xdrx) decreased. The optimal range of the hot processing was determined to be 1050–1200 °C/0.369–1 s−1. Zigzag-like grain boundaries (GBs) and intergranular cracks were found in the unstable region, in which the disordered martensitic structure was observed. The orderly packet martensite was formed in the general processing region, and the mixed structure with incomplete DRX grains was composed of coarse and fine grains. The microstructure in the optimum processing region was composed of DRX grains and the multistage martensite. The validity of the Laasraoui segmented flow stress model, DRX model, grain size prediction model, and HPM was verified by upsetting tests.