The strength and ductility of low-carbon carbide-free bainitic (CFB) automotive steel are not good enough. In this study, a short austenitization (SA) process in conjunction with isothermal bainitic transformation was adopted to refine the bainitic ferrite lath, thus improving the mechanical properties of low-carbon CFB steel. The microstructure evolution was traced by dilatometric measurements and microstructure characterization, which revealed the refined microstructure by SA process. Besides, the deformation behaviors of the studied steels were analyzed, indicating that the improved work hardening capability by refined bainitic ferrite lath and more stable austenite were responsible for the better strength-ductility match. The CFB steel treated by SA process exhibits a high tensile strength of ~1180 MPa, and its elongation of 22.6% is comparable with commercial QP980 steel.