Experimental study on downstream rolling process for twin roll casting magnesium alloy strip was carried out. The microstructure of the casting and rolling strip were observed by OM, SEM, and TEM. The effects of homogenizing process, the parameters of rolling process and annealing after rolled on secondary rolling of AZ31B casting strip were analyzed. The results show that the twin roll casting strip are suitable for rolling at 380-420 °C after homogenizing at 400 oC for two hours, the reduction rate of each pass should be controlled lower than 18%. Mg alloy sheets with thickness from 0.3-1 mm can be produced in once annealing period in this way. By controlling the pass reduction and rolling temperature, the fabricated AZ31B Mg alloy sheets can achieve both high strength and good plasticity by grain refining below 10μm. The mechanical properties of rolled strip after annealing at 400 oC for 0.5h-1h could get tensile strength 220MPa and meantime elongation rate 20%.