The mechanical properties of Low Carbon Si-Mn Q&P steel are strongly affected by the conditions of heat treatment. Microstructures and mechanical properties of Low Carbon Si-Mn Q&P steel at different partitioning temperature and holding time was investigated. The microstructure was analysed by scanning electron microscopy (SEM) and transmission electron microscopy (TEM). It is shown that the microstructure of Q&P steel is carbon-depleted lath martensite and carbon enriched retained austenite. The retained austenite appear film-type between the laths. Higher partitioning temperature and longer partitioning time can obtain more retained austenite. It is shown that with increasing partitioning time ultimate tensile strength decreases, while elongation increases obviously. Carbon-enriched metastable retained austenite is considered beneficial because the TRIP phenomenon during deformation can contribute to formability and energy absorption.