One of the key aspects of integrated computational materials engineering approach is the integrated modelling of process chains that capture the essential microstructure physics and predict the final properties. In the current work, such an integrated modelling approach is attempted for analyzing the hot forging process for low-alloyed steels. Traditionally, hot forging process is designed with primary focus on the deformation step, with less attention paid to the incorporation of microstructure information flow between its sub-steps of heating, deformation and cooling. Such a siloed approach restricts its integration with other manufacturing processes, and also with design and material selection stages. To address the issue, in this work, a FEM based thermo-mechanical modelling framework, integrating composition dependent microstructure evolution models for heating, deformation and cooling sub-steps, is implemented for hot forging of low-alloyed steels. The evolution of key microstructural features at each sub-step is tracked and fed to the following step. The integrated modelling framework is then used to study the effect of process parameters and macrosegregation in the billet on the distribution of final microstructure and properties obtained for a sample steel upsetting process. Key observations made in the studies are discussed. Ways of representation of the distribution of microstructure and properties across the forged part, that can enable better decision making in the larger perspective of downstream processing and final use, are highlighted. Consequently, the utility of the integrated modelling approach to aid the development of improved process and product design capabilities for hot forged products is established.