Dual-phase structure in an HSLA steel containing 1% Cr and 0.2% V was produced by cooling from austenite field to the (α+γ) region, then quenching in iced brine. The quenched steels were tempered at 700°C. Linear equations were proposed to express the effect of martensite volume fraction and tensile strength on uniform elongation, products of tensile strength and uniform or total elongation. Cleavage and/or void coalescence was the operating mode of fracture for quenched steels, whereas void coalescence was the main mechanism after tempering. The size of the voids was found to be affected by the steel plasticity.