The most promising direction for obtaining a unique combination of difficult-to-combine properties of low-carbon steels is the formation of a dispersed ferrite microstructure and a volumetric system of nanoscale phase precipitates. This study was aimed at establishing the special features of the composition influence on the characteristics of the microstructure, phase precipitates, and mechanical properties of hot-rolled steels of the ferritic class. It was carried out by transmission electron microscopy and testing the mechanical properties of metal using 8 laboratory melts of low-carbon steels microalloyed by V, Nb, Ti, and Mo in various combinations. It was found that block ferrite prevails in the structure of steel cooled after hot rolling at a rate of 10−15 °C/s. Lowering of the microalloying components content leads to a decrease in the block ferrite fraction to 20−35% and the dominance of polygonal ferrite. The presence of nanoscale carbide (carbonitride) precipitates of austenitic and interphase/mixed types was detected in the rolled steels. It was established that the tendencies of changes in the characteristics of the structural state and present phase precipitates correlate well with obtained values of strength properties. The advantages of titanium-based microalloying systems in comparison with vanadium-based are shown.