Modern technologies need more and more precise computer design of manufacturing processes. Especially it is visible in thermal processing of steel, such as hot rolling, hot forging, casting, welding, 3D printing, and so on. An application of computer simulation of austenite decomposition in optimization of manufacturing of low alloyed steel bars by hot rolling was studied. For this purpose the mathematical model and computer software for very precise anticipation of TTT diagrams data was developed. The calculation of TTT diagrams data was based on chemical composition of low alloyed steels. The study started with definition mechanisms of austenite decomposition at constant subcritical temperatures. The mechanism of γ→α phase change in steel is not yet been adequately clarified. Methods for calibration of kinetic equations of austenite phase transition at constant subcritical temperatures were developed in this paper. Mathematical modeling of TTT diagrams data consists both, prediction of kinetic of phase transformations and anticipation of steel hardness. It was found out that the hardness of both, microstructural constituents and total hardness of steel mostly depends on the carbon content and temperature of γ→α phase transformation. The model of TTT diagrams data of low alloyed steel was verified in purpose to apply the model of isothermal decomposition of austenite in very precise method for prediction of microstructure composition and hardness of hot rolled steel bars. The verification of developed model was done by comparison of the calculated results of TTT diagrams data with experimentally estimated TTT diagrams data. By the simulation of hardness and microstructural composition of hot rolled steel bar the optimal cooling regime in cooling beds can be designed.