Abstract: Plastic instability, including both the discontinuous yielding and stress serrations, has been frequently observed during the tensile deformation of medium-Mn steels (MMnS) and has been intensively studied in recent years. Unfortunately, research results are controversial, and no consensus has been achieved regarding the topic. Here, we first summarize all the possible factors that affect the yielding and flow stress serrations in MMnS, including the morphology and stability of austenite, the feature of the phase interface, and the deformation parameters. Then, we propose a universal mechanism to explain the conflicting experimental results. We conclude that the discontinuous yielding can be attributed to the lack of mobile dislocation before deformation and the rapid dislocation multiplication at the beginning of plastic deformation. Meanwhile, the results show that the stress serrations are formed due to the pinning and depinning between dislocations and interstitial atoms in austenite. Strain-induced martensitic transformation, influenced by the mechanical stability of austenite grain and deformation parameters, should not be the intrinsic cause of plastic instability. However, it can intensify or weaken the discontinuous yielding and the stress serrations by affecting the mobility and density of dislocations, as well as the interaction between the interstitial atoms and dislocations in austenite grains.