In recent years, the ultra-fast cooling process is a new technology used to control the strip cooling process in the international which corresponds to an average cooling rate higher than 150°C/s. This new technology can provide an effective means to the development of low-cost and high-performance steels. In this paper, the phase transformation temperatures, microstructures and mechanical properties of a Ti microalloyed steel were investigated by means of a themomechanical simulator and a D450mm mill equipped with ultra-fast cooling device. The results show that the phase transition temperatures decreased and micro-hardness increased with the increasing of cooling rate. The microstructures of steel used ultra-fast cooling process was small and more uniform than the ones used laminar flow cooling and air cooling process, and finer and uniformity dispersed precipitates can be produced under ultra-fast cooling process, hence higher yield strength and good elongation was obtained for the steel. The ultra-fast cooling technology has a good effect on the microstructures and properties of the Ti microalloyed steel.