In response to the increasing market demands, new microalloyed steels and advanced thermomechanical processing schedules are being developed in the production of thick plates. Suitable microalloying elements, as well as optimized thermomechanical treatments can result in appropriate strength-toughness balances, through the contribution of different strengthening mechanisms, such as grain size refinement, solid solution, precipitation hardening and dislocation strengthening. In thin strip products, significant precipitation stregthening could be achieved by the optimization of the coiling strategy and an adequate microalloying design. Conversely, precipitation hardening in thick plates is more limited owing to the complexity of forming fine precipitates during continuous cooling after hot rolling. With the purpose of taking advantage of precipitation strengthening in microalloyed plates, the potential of applying induction heat treatment after hot rolling was evaluated. For that purpose, laboratory thermomechanical tests simulating plate hot rolling mill conditions were carried out using low carbon steels microalloyed with Nb, Nb-Mo and Ti-Mo additions. After continuous cooling to room temperature, a set of rapid heat treatments were employed reproducing induction heat treatments conditions. The results suggest that a considerable tensile property improvement was achieved under given heat treatment conditions after induction treatment, mainly for the steels containing Mo. This enhancement is attributed to the formation of fine precipitates during induction heat treatment. The effect of this strengthening on toughness properties is also analyzed and its impact evaluated depending on the composition and nature of the pre-treatment microstructure.