Ti is a relatively inexpensive alloying element. Ti micro-alloying enables steel to have higher strength, which has already been applied to steel products in many domains, including engineering machinery. In this work, the effects of cooling temperature upon the mechanical properties and microstructure of Ti microalloyed steel were researched by OM, TEM, tensile and impact tests. The consequences show that as the final cooling temperature (FCT) decreased, the steel plate microstructure changed from PF + P + B (less) to GB + PF (less)+ P (less), and the grain size decreased obviously. As the temperature further decreased to 607°C, the intragranular dislocation tangles and subgrains increased significantly. The size and number of large TiC precipitates in the steel plate decreased with the decrease of the final cooling temperature. Additionally, the mean size of precipitates decreases gradually. As the FCT varied between 672°C and 645°C, the steel plate strength and low temperature toughness were significantly improved. As the temperature is further reduced to 607°C, the strength increase was reduced. Due to the improvement of grain uniformity, the low temperature toughness was further enhanced to 156 J.