Abstract: Heavy components of low-alloy high-strength (LAHS) steels are generally formed by multi-pass forging. It is necessary to explore the flow characteristics and hot workability of LAHS steels during the multi-pass forging process, which is beneficial to the formulation of actual processing parameters. In the study, the multi-pass hot compression experiments of a typical LAHS steel are carried out at a wide range of deformation temperatures and strain rates. It is found that the work hardening rate of the experimental material depends on deformation parameters and deformation passes, which is ascribed to the impacts of static and dynamic softening behaviors. A new model is established to describe the flow characteristics at various deformation passes. Compared to the classical Arrhenius model and modified Zerilli and Armstrong model, the newly proposed model shows higher prediction accuracy with a confidence level of 0.98565. Furthermore, the connection between power dissipation efficiency (PDE) and deformation parameters is revealed by analyzing the microstructures. The PDE cannot be utilized to reflect the efficiency of energy dissipation for microstructure evolution during the entire deformation process, but only to assess the efficiency of energy dissipation for microstructure evolution in a specific deformation parameter state. As a result, an integrated processing map is proposed to better study the hot workability of the LAHS steel, which considers the effects of instability factor (IF), PDE, and distribution and size of grains. The optimized processing parameters for the multi-pass deformation process are the deformation parameters of 1223–1318 K and 0.01–0.08 s⁻¹. Complete dynamic recrystallization occurs within the optimized processing parameters with an average grain size of 18.36–42.3 μm. This study will guide the optimization of the forging process of heavy components.