Two-stage heat treatment process which has guiding significance for continuous annealing TRIP steel producing was applied in this research. Different matrixes such as polygonal ferrite matrix, bainite ferrite matrix and annealed martenite matrix were obtained through different heat treatment processes. Compared the transformation-induced plasticity (TRIP) behaviors of three different tested samples，and the corresponding process for required product properties can be chosen. It was found that the needle-like retained austenite obtained in AMT steel was isolated from other microstructures while the retained austenite in the other two samples appeared to be equiaxed or network structure. The elongation, yield ratio and stability of retained austenite in AMT steel were all higher than that in PFT or BFT steels. BFT steel possesses highest tensile strength and lowest elongation while the yield ratio, RA content and carbon concentration in RA were all lowest for PFT steel.