Grain refinement is the only strengthening mechanism that improves both strength and toughness. Controlled rolling and accelerated cooling techniques have been known to be effective method to improve the mechanical properties by controlling the recrystallization and/or grain coarsening during processing. Repeat phase transformation $(gamma/alpha)$ by repeat heat treating is another way of grain refinement. In this study, a combined effect of controlled rolling and repeat heat treating was investigated. To study the effects of Mo addition and process parameters, Mo alloyed low carbon steels were prepared and thermomechanical controlled processes were simulated in the Gleeble system. The Mo addition resulted in an increasement of the grain coarsening temperature and suppress austenite recrystallization. The optimum condition for the refinement of austenite was obtained when the controlled rolling was performed twice with the same heat treatment condition, and reduction ratio of second pass was higher than that of first pass.