Two kinds of X80 high deformability pipeline steels have been processed by applying two-stage cooling process (TSC) and heat treatment on-line process (HOP). The microstructure of TSC steel and HOP steel are polygonal ferrite (PF) + quasi-polygonal ferrite (QF) + granular bainite (GB) multiphase and QF + GB+ martensite-austenite (M/A) multiphase respectively. In HOP steel, the volume of M/A is much more and the size is much larger than that in TSC steel. Some degenerated M/A constituents are also observed in HOP steel. The HOP steel has shown higher tensile strength, lower yield ratio and lower uniform elongation than TSC steel. The strain-nI (instantaneous n-value) curve of HOP steel could be divided into two stages and the TSC’s could be separated to three stages.