The present work has been devoted to studying the effect of rolling in a double-phase (austenite-ferrite) region on the mechanical properties of rod from steel 08G2S. The steel was rolled in a 150 mill of the Beloretsk Metallurgical Works (BMW). The final temperature of the rolling was decreased by decreasing the rolling rate and the temperature in the roll furnace before the semifinishing group of stands and by water cooling of the feed before the finishing group of stands. The temperature of the rod before and after the finishing block and in the Stelmor line for delayed cooling was determined by a Promin-4Kh optical pyrometer. As compared with the standard regime used at the base enterprise we managed to decrease the rolling temperature by 160~ which allowed us to cool the rod to a temperature below the critical point Ar 3. An analysis of the microstructure has shown that the ferrite grains disintegrate, the pearlite colonies diminish, and their appearance becomes less coarse. The results of mechanical tests have shown that the ductility of the steel was increased, whereas the hardness margin was preserved. The relative reduction of area was increased by 14%. Thus, the process of rolling of steel 08G2S can be performed under the conditions of a 150 mill at BMW in the two-phase austenite-ferrite region with improvement of the combination of mechanical properties of the rod.