A feasibility study has been made to produce the Mg alloy sheet of high tensile strength and formability by strip casting and an optimized rolling process. 4mm thickness AZ31 and AZ91 strips were cast successfully. While the microstructure of the cast AZ31 strip consisted of columnar zones, the cast AZ91 strip consisted of fine, equiaxed dendrite and fine precipitations. All samples were rolled to 0.5 mm thickness using an optimized finish-rolling schedule, and their grain size was around 4μm. The ultimate tensile strength (UTS), yield strength (YS) (0.2% offset) and elongation (EL) of the rolled AZ31 sheet were higher than those of commercial AZ31B sheet, and the UTS and YS of the rolled AZ91 sheet were 30% higher than commercial AZ31B sheet. The press formability of the rolled AZ31 and AZ91 sheet was equal or superior to commercial AZ31B sheet.