Three kinds of Nb‐Ti‐Mo ferrite matrix micro‐alloyed steels with three different Ti contents were designed. With optical microcopy, transmission electron microcopy, energy spectrum analysis and tensiletest, the microstructures, precipitate particles as well as mechanical properties of three steels were studied. The strength and toughness of steel with0.092% Ti content were verified to adequate for Q600 grade refuge alternative plates. The results show that there were two kinds of particles with obvious different size in ferrite micro‐alloy steels. The dominating precipitates are compound carbonitrides of Nb, Ti and Mo, which are less than 10nm and precipitated in chains or dispersed in the interior of grain. Another kind of particles are titanium carbonitrides with size about 200‐300 nm. By the methodof tensile testsat room temperature andat 500°C, the Nb‐Ti‐Mo ferrite matrix micro‐alloyed steels have excellent mechanical properties. In addition, the samples with 0.092% Ti content have yield strength at 500°C exceeding400MPa, which are suitable as refuge alternation‐plates.