Microstructure observations and drop-weight tear test were performed to study the microstructures and mechanical properties of two kinds of industrial X70 and two kinds of industrial X80 grade pipeline steels. The effective grain size and the fraction of high angle grain boundaries in the pipeline steels were investigated by electron backscatter diffraction analysis. It is found that the low temperature toughness of the pipeline steels depends not only on the effective grain size, but also on other microstructural factors such as martensite-austenite (MA) constituents and precipitates. The morphology and size of MA constituents significantly affect the mechanical properties of the pipeline steels. Nubby MA constituents with large size have significant negative effects on the toughness, while smaller granular MA constituents have less harmful effects. Similarly, larger Ti-rich nitrides with sharp corners have a strongly negative effect on the toughness, while fine, spherical Nb-rich carbides have a less deleterious effect. The low temperature toughness of the steels is independent of the fraction of high angle grain boundaries.