Abstract: Based on the thermal simulation and phase transformation tests, the reasonably controlled rolling and controlled cooling processes of vanadium microalloyed MG700 high-strength anchor steel were designed. The details were as follows. For the controlled rolling processes, rough and intermediate rolling at 970~1 050 ℃ and finishing rolling at 800~840 ℃ were adopted. For the controlled cooling processes, water cooling was adopted between intermediate rolling and finishing rolling, the final cooling temperature was controlled at 820~850 ℃ and air cooling was used after finishing rolling. The above industrial trial results showed that the yield strength of MG700 anchor steel was stable at 720~760 MPa, its tensile strength was stable at 885~925 MPa, its elongation after fracture was stable at 17.5%~19.0% so that its comprehensive mechanical properties were excellent. The microstructure of MG700 anchor steel was mainly composed of ferrite and pearlite. The range of ferrite grain diameter was between 0.60 μm and 13.64 μm with an average diameter of about 3.86 μm. The mechanical properties and microstructure characteristics of the newly developed MG700 high-strength anchor steel met the requirements of the relevant standards for anchor steel in the coal industry, which could provide theoretical support and practical experiences for the development of similar products.