Using an originally-developed computer model and appropriate software the impact of deformation on austenite phase transformation in low carbon alloyed steel was carried out. The computer simulation takes into account an impact of the deformation degree and takes into account non-constant cooling rate. That makes it useful for the development of thermal and deformation technological processes development. Based on the simulation results a technology of controlled rolling of low carbon steel alloyed by carbide forming elements (Nb, V, Ti) was developed. The proposed technique allows production of rolled steel sheets with high strength and plastic properties, as well as high impact strength in normal and low temperatures.