Based on the characteristics of raw materials in EAF-TSCR, the composition of VN micro-alloyed was designed, the processes of the steelmaking, continuous casting, soaking, rolling, cooling were controlled, and at last the VN Micro-alloying high strength steel with ultra-fine grain was developed. The ferrite grain size of the steel reaches 3.0 to 4.0 microns, and the yield strength of which reaches 550MPa. Besides, the steel processes good toughness, cold formability and weldability. In the end, the strengthening mechanism of the ultra-fine steel was discussed.