The aim of the current study was to investigate the microstructural evolution during dynamic recrystallization in coarse Nb microalloyed austenite in thin slab direct rolling (TSDR) processing. A model was developed to predict the change of the austenite grain size during the dynamic recrystallization, by using the law of mixtures. The equations initially developed for partial static recrystallization were used for partial dynamic recrystallization, by adjusting the value of the constant. The results show that the change of the austenite grain size can be reasonably described by using the equations developed according to the law of mixtures.