We recently described the reversal of strain-induced martensite to the parent austenite phase in the attempt to produce nanograins/ultrafine grains via controlled annealing of heavily cold-worked metastable austenite. The phase-reversion-induced microstructure consisted of nanocrystalline (d<100 nm), ultrafine (d % 100 to 500 nm), and submicron (d % 500 to 1000 nm) grains and was characterized by high strength (800 to 1000 MPa)-high ductility (30 to 40 pct) combination, which was a function of cold deformation and temperature-time annealing sequence.[1] In this article, we demonstrate that the success of the approach in obtaining nanograined/ultrafine-grained (NG/UFG) structure depends on the predominance of dislocationcell-type structure in the severely deformed martensite. Electron microscopy and selected area electron diffraction analysis indicated that with an increase in the degree of cold deformation there is transformation of lath martensite to dislocation-cell-type martensite, which is a necessary prerequisite to obtain phase-reversion-induced NG/UFG austenite. The transformation of lath-type to dislocation-cell-type martensite involves refinement of packet and lath size and break up of lath structure. Based on detailed and systematic electron microscopy study of cold-deformed metastable austenite (~45 to 80 pct deformation) and constant temperaturetime annealing sequence, when the phase reversion kinetics is rapid, our hypothesis is that the maximization of dislocation-cell-type structure in lieu of lath-type facilitates NG/UFG structure with a high strength-high ductility combination. Interestingly, the yield strength follows the Hall-Petch relation in the NG/UFG regime for the investigated austenitic stainless steel.In the context of obtaining high strength-high ductility combination, we recently described a novel processing route of developing nanograined/ultrafinegrained (NG/UFG) structure in a metastable austenitic stainless steel (AISI 301LN) involving controlled phase reversion annealing of the cold-deformed austenite. [1][2][3][4] In this approach, severe deformation of adequately metastable austenite at room temperature leads to strain-induced transformation of austenite (fcc c) to martensite (bcc a¢). On annealing, the severely deformed strain-induced martensite reverts back to austenite [1][2][3][4] via diffusional or shear reversion mechanism. [5,6] The optimal phase reversion annealing sequence resulted in the structure that was characterized by a combination of high yield strength and excellent elongation of 800 to 1000 MPa and 30 to 40 pct, respectively. [1] In a diffusional reversion mechanism, the phase reversion process and the ''final'' microstructure are not only a function of diffusion rate in bcc (martensite) and fcc (austenite) phase, but also depend on the martensite structure and density of defects. These two characteristics may accelerate the transformation characteristics or provide an increased number of nucleation sites. Thus, in sequel to our earlier work, there is a need to...