Abstract: The microstructure, texture and deep drawability of an ultra-low carbon/nitrogen ferritic stainless steel were investigated focusing on the influence of reduction on cold rolling and recrystallization texture. The results indicated that the hot-rolled strip after annealing is mainly characterized by {111} recrystallization texture when hot rolling is finished at 750°C. The orientation density of γ-fiber texture decreases but that of α-fiber texture increases with increasing cold rolling reduction. And, the orientation density of {111} recrystallization texture increases significantly as well. The volume fraction of {111} recrystallization component is up to 64.5% when the cold rolling reduction is 84%, and the cold-rolled sheet after annealing shows that its deep drawability is so favorable that the values of average strain ratio (R¯) and planar anisotropy (ΔR) are 1.69 and -0.17, respectively.