Because of their excellent combination of strength and ductility, quenching and partitioning (Q & P) steels have a great chance of being added to the third generation of advanced high strength steels. The large ductility of Q & P steels arises from the presence of 10% to 15% of retained austenite which postpones necking due to the transformation induced plasticity (TRIP) effect. Moreover, Q & P steels show promising forming properties with favourable Lankford coefficients, while their planar anisotropy is low due to a weak texture. The stability of the metastable austenite is the key to obtain tailored properties for these steels. To become part of the newest generation of advanced high strength steels, Q & P steels have to preserve their mechanical properties at dynamic strain rates and over a wide range of temperatures. Therefore, in the present study, a low-Si Q & P steel was tested at temperatures from −40 °C to 80 °C and strain rates from 0.001 s⁻¹ to 500 s⁻¹. Results show that the mechanical properties are well-preserved at the lowest temperatures. Indeed, at −40 °C and room temperature, no significant loss of the deformation capacity is observed even at dynamic strain rates. This is attributed to the presence of a large fraction of austenite that is so (thermally) stable that it does not transform in the absence of deformation. In addition, the high stability of the austenite decreases the elongation at high test temperatures (80 °C). The additional adiabatic heating in the dynamic tests causes the largest reduction of the uniform strain for the samples tested at 80 °C. Quantification of the retained austenite fraction in the samples after testing confirmed that, at the highest temperature and strain rate, the TRIP effect is suppressed.