The morphology, structure, and chemical composition of precipitates in the final microstructure of Nb-V-Ti microalloyed X70 acicular ferrite pipeline steel were investigated using transmission electron microscopy (TEM) and energy dispersive X-ray spectroscopy (EDS). Precipitates observed by TEM can be classified into two groups. The large precipitates are complex compounds that comprise square-shaped TiN precipitate as core with fine Nb-containing precipitate nucleated on pre-existing TiN precipitate as caps on one or more faces at high temperature. In contrast, the fine and spherical Nb carbides and/or carbonitrides precipitate heterogene-ously on dislocations and sub-boundaries at low temperature. From the analysis in terms of thermodynamics, EDS and chemical composition of the steel, NbC precipitation is considered to be the predominant precipitation behavior in the tested steel under the processing conditions of this research.