Cost-effective advanced design concepts are becoming more common in the production of thick plates in order to meet demanding market requirements. Accordingly, precipitation strengthening mechanisms are extensively employed in thin strip products, because they enhance the final properties by using a coiling optimization strategy. Nevertheless, and specifically for thick plate production, the formation of effective precipitation during continuous cooling after hot rolling is more challenging. With the aim of gaining further knowledge about this strengthening mechanism, plate hot rolling conditions were reproduced in low carbon Ti-Mo microalloyed steel through laboratory simulation tests to generate different hot-rolled microstructures. Subsequently, a rapid heating process was applied in order to simulate induction heat treatment conditions. The results indicated that the nature of the matrix microstructure (i.e., ferrite, bainite) affects the achieved precipitation hardening, while the balance between strength and toughness depends on the hot-rolled microstructure.