**Abstract**

In this present study, the transformation products in micro-alloyed steel have been examined as well as isothermal decomposition of austenite into various phase formation. The rapid cooling from austenitizing temperature 1200°C to 14 different isothermal temperatures between 750 and 100°C with 50°C intervals were carried out by using dilatometric strain dilatometer on thermo-mechanical simulator. The heat treatments were delayed at different times to examine the microstructure evolution at all isothermal temperatures. The transformation kinetics was recorded during isothermal treatments and designed an isothermal transformation diagram, which is verified by microstructural changes. The results show that the initial microstructure which consists of proeutectoid ferrite and pearlite transforms into a combination of proeutectoid ferrite, pearlite, widmanstätten ferrite, upper or lower bainite, or martensite phases. The austenite grain size has been found to be decreased with a decrease in the isothermal holding temperature. The nose temperature was achieved at isothermal temperature 500°C which have been taking the least time for start and end of transformation of phases. It is also worth noticing that the start and end transformation times were observed decreasing with a decrease in the isothermal holding temperatures and after the nose transformation again gradually increased.

**Keywords:** isothermal transformation, micro-alloyed steel, microstructure, recrystallization, bainite, ITT diagram
