The processing difficulties and enhanced ductility of UFG (ultrafine‐grained) microalloyed steels are currently one of the most stimulating challenges due to problems in practical applications as structural materials. A key challenge is the ability to represent the real behavior of such modern structural material using multiscale approach. In this study, various processing routes and nonlinear combined hardening model were applied to capture strain path effects that play major role in the deformation process of UFG microalloyed steels. Special emphases are given on the inhomogeneity of the accumulated energy of deformation and resulted microstructure evolution. The hardening model was implemented into a multiscale constitutive model within a crystal plasticity framework. The proposed idea provides a bridge between the dislocation substructure and fine precipitates interactions at the nano‐ and microscale, local stress concentrations on the grain boundaries at the microscale, intragranular stresses at the mesoscale, and material mechanical response at the macroscale. Based on experimental results, in order to fully cover all the analysis scales, the multiscale modeling approach is proposed. The results presented in this study show that a combination of continuum mechanics and dislocation theory can be used successfully to map dislocation strengthening and to build a rheological model for UFG microalloyed steels.