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As an optimal microstructure of pipeline steels, acicular ferrite is widely found in steels used in oil and gas pipeline transportation because it possesses both high strength and good toughness. In this paper, the microstructure of acicular ferrite and its continuous cooling transformation (CCT) diagrams of six steels with different carbon and alloy additions have been studied by using dilatometry, optical metallography. And the effects of different hot deformation processes on the CCT diagrams and microstructures have also been studied. Furthermore, the effects of microalloyed elements and hot deformation on continuous cooling transformation have been discussed. The results show that lower carbon content and alloy additions such as Mn, Nb, Ti, Mo, Ni and/or Cu in steels will promote the formation of acicular ferrite. The hot deformation promotes the acicular ferrite transformation and refines the microstructures of final products.