The hot ring rolling technology as the crucial procedure for the manufacture of bearing rings plays an important role in determining the final microstructure of bearing rings. In this work, the influence of the hot ring rolling process on the microstructural evolution of 100Cr6 bearing rings was investigated using a three-dimensional (3D) numerical model and microstructural characterization. It was found that the significant microstructural refinement occurs at the different regions of the rings. However, owing to the non-uniform plastic deformation of hot rolling, the refinement rate of grain size and decrease of pearlite lamellar spacing (PLS) also showed uniformity at different regions of the rings. Furthermore, the degree of grain refinement had been limited with the increase of rolling reduction. Due to the refined grain size and decreased PLS, the Vickers hardness increased with the increase of rolling reduction. Moreover, the Vickers hardness from the outer surface to the inner surface of the ring is asymmetrical u-shaped, which had the law of lower hardness in the center area and higher hardness on the surface.