In this paper a multi-linear regression analysis is developed to predict continuous cooling (CCT) diagrams in low carbon Nb and Nb-Mo microalloyed steels. The inputs to the analysis include the weight percentage of alloying elements, the prior austenite grain size, the retained strain and the cooling rate. To develop the model, 11 steels with different combinations of Nb and Mo were considered. In some cases, the resulting equations have been validated with external data from the literature. Additionally, the model was also employed to predict hardness and ferrite grain size with the aim of providing a tool to link microstructural features with mechanical property predictions. Both Nb and Mo additions promote a reduction of ferrite and bainite start temperatures, where the effect is more pronounced for Nb in the bainitic region. Both microalloying elements contribute to an increase in hardness and a refinement of the microstructure.