The strip casting is a recently appeared technology with a potential to significantly reduce energy consumption in steel production, compared to hot rolling and cold rolling. However, the quantitative dependences of the steel microstructure and mechanical properties on strip casting parameters are unknown and require investigation. In the present work we studied the effects of strain and interrupted cooling temperature on microstructure and mechanical properties in conventional dual phase steel (0.08C-0.81Si-1.47Mn-0.03Al wt%). The strip casting process was simulated using a Gleeble 3500 thermo-mechanical simulator. The steel microstructures were studied using optical, scanning and transmission electron microscopy. Mechanical properties were measured using microhardness and tensile testing. Microstructures consisting of 40-80% polygonal ferrite with remaining martensite, bainite and very small amount of Widmanstätten ferrite were produced. Deformation to 0.17-0.46 strain at 1050. °C refined the prior austenite grain size via static recrystallisation, which led to the acceleration of ferrite formation and the ferrite grain refinement. The yield stress and ultimate tensile strength increased with a decrease in ferrite fraction, while the total elongation decreased. The improvement of mechanical properties via deformation was ascribed to dislocation strengthening and grain boundary strengthening.