In this review, effects of initial microstructure before intercritical annealing and processing routes of dual phase (DP) high strength steels are discussed. Prior-applied deformation processes as cold rolling and severe plastic deformation (SPD) including their impacts on mechanical properties of DP steels are described. Influences of heating rate, recrystallization of ferrite, nucleation and grain growth of austenite on the microstructure evolution are also presented. The intercritical annealing and thermomechanical processes of DP steels are comparatively outlined. Furthermore, post-intercritical annealing treatments, i.e., tempering, bake hardening, strain and quench aging are argued. Effects of key alloying elements on the microstructure and mechanical properties of DP steels are briefly summarized. A further development of DP steels can properly benefit from this extensive review.