An 18Cr-8Ni austenitic stainless steel is subjected to cold rolling at room temperature and low temperature (À50 °C) under different amounts of deformation. The samples cold rolled to 70% deformation are then annealed to obtain nano/ultrafine-grained steels with a good strength-ductility combination. The effects of cold rolling temperature and deformation amount on the microstructure evolution of austenitic stainless steel during rolling are investigated. The results reveal that low-temperature rolling reduces the stacking fault energy of austenitic stainless steel and promotes the formation of shear bands, ε-martensite, and α 0 -martensite. For both low-temperature and room-temperature rolling, the austenite and α 0 -martensite, austenite and ε-martensite, α 0 -martensite and ε-martensite pairs follow the Kurdjumov-Sachs (K-S), Shoji-Nishiyama (S-N), and Burgers orientation relationships, respectively. The deformation-induced martensite transformation sequence of austenitic stainless steel follows the processes γ ! α' and γ ! ε ! α'. A heterogeneous nano/ultrafine-grained structure with a grain size of 560 nm is obtained by low-temperature rolling and annealing; roomtemperature rolling achieves a grain size of 690 nm. The heterogeneous nano/ ultrafine-grained steel exhibits a high yield strength of 908 MPa and maintains a satisfactory total elongation of 43%.