PURPOSE: To inexpensively manufacture the hot rolled steel sheet having well balanced strength and ductility and excellent press-formability, by hot rolling a steel material containing C, Si and Mn in a prescribed proportion at prescribed temperatures, and by cooling thus rolled steel sheet under a prescribed condition.

CONSTITUTION: In the case of continuously hot rolling a steel material containing 0.02W0.2% C, 0.2W1.5% Si and 1W2.5% Mn, the said hot rolling pass is performed at hot finishing temperatures above the two-phase region at Ar3WAr1 points. Next, a controlled cooling is given to this steel sheet so as to cool it from the temperature at the end point of hot rolling pass to Ar1W550°C with a cooling rate ≥5W30°C/sec. Moreover, the steel sheet is quenched to ≤350°C with a cooling rate ≥30°C/sec and is thereupon coiled. Besides, according to the necessity, the steel material is permitted to contain 0.3W1.5% Cr, ≤ about 0.15% P, about 0.01W0.06% Al, etc.