A coupled thermodynamic/kinetic calculation of austenite formation during intercritical annealing of low-alloy TRIP steels is presented. The simulation was performed with the use of Dictra computational kinetics software, which employs a procedure for the numerical solution of the coupled diffusion equations involved, as well as mobility databases for the retrieval of the appropriate kinetic data. Calculated results are compared with available experimental data, in order to evaluate the model. Simulation results, regarding the amount and composition of austenite, the rate of transformation and the effect of annealing temperature and heating conditions, are presented and discussed. It is concluded that the simulation can assist the design of the intercritical annealing in these steels.