Martensitic transformation behavior in low-alloy transformation-induced plasticity steels has been studied at 293 K and 193 K. The as-received austenite precipitated in the ferrite matrix satisfied the KurdjumovSachs orientation relationship with the ferrite matrix. The transformed martensite in the ferrite matrix was detected and it commonly exhibited the same orientation as the ferrite matrix. The martensitic transformation was independent of the selection of variant by stress accommodation. Thus, the transformed martensite variant was chosen predominantly to reduce interfacial energy. The transformed martensite may contribute to work-hardening in the ferrite matrix as a harder phase. Further, the transformed martensite at ferrite grain boundaries was due to stress accommodation. The variant achieving the highest Schmid factor in individual austenite was predominantly chosen to introduce slip deformation.