Thermal decomposition of retained austenite in TRIP steel was investigated by means of differential scanning calorimetry (DSC). The decomposition curve was abnormal, and the decomposition temperature and the activation energy were measured by the Kissinger method, which were all higher than those in quenched steel. The thermal decomposition data of samples soaked in liquid nitrogen after TRIP treatment were all similar to those without additional low temperature treatment. It indicated that there is a high thermal stability in retained austenite of the TRIP steel at low temperature, which was also proved by XRD analysis.