The microalloy steel without Ni for low temperature pressure container consists of C 0.04-0.08 wt%, Si less than 0.6 wt%, Mn 1.0-1.6 wt%, Nb 0.010-0.030 wt%, Ti 0.005-0.030 wt%, V less than 0.070 wt%, Al 0.004-0.060 wt%, N less than 0.008 wt%, P less than 0.015 wt%, S less than 0.010 wt%, and Fe and inevitable impurity for the rest. By means of reasonable alloy component design and technological process including TMCP rolling, the steel plate has yield strength up to 360 MPa, tensile strength over 490 MPa, high low temperature impact toughness, excellent plasticity and welding performance, low production cost and short production period.