High-strength micro-alloyed steels are widely used in various branches of technology and industry due to the simultaneous combination of high indicators of strength, ductility, fatigue, corrosion resistance, and other service properties. This is achieved due to the reasonable choice of the optimal chemical composition and parameters of temperature deformation treatment of steel that provide a synergistic effect on the dispersed microstructure and characteristics of excess phase precipitates, which control the achievement of these difficult-to-combine properties of rolled products. Additionally, the improvement of the level and stability of these properties, as well as the prevention of the occurrence of defects, is largely determined by the indicators of the homogeneity of the composition, structure by volume and manufacturability of the metal, and primarily hot ductility, which are controlled by the presence of precipitation of excess phases, including micro-alloying elements. In accordance with the circumstances noted, in the present review, a generalization, systematization, and analysis of the results of the studies are conducted on the effect of phase precipitates on the hot ductility and homogeneity of composition and structure, depending on the chemical composition and parameters of the temperature-deformation treatment of steel.