The invention provides a thin high-strength hot-rolled steel sheet with a thickness of not more than 3.5 mm which has excellent stretch flangeability and high uniformity in both shape and mechanical properties of the steel sheet, as well as a method of producing the hot-rolled steel sheet. A slab containing C: 0.05-0.30 wt %, Si: 0.03-1.0 wt %, Mn: 1.5-3.5 wt %, P: not more than 0.02 wt %, S: not more than 0.005 wt %, Al: not more than 0.150 wt %, N: not more than 0.0200 wt %, and one or two of Nb: 0.003-0.20 wt % and Ti: 0.005-0.20 wt % is heated at a temperature of not higher than 1200° C. The slab is hot-rolled at a finish rolling end temperature of not lower than 800° C., preferably at a finish rolling start temperature of 950-1050° C. A hot-rolled sheet is started to be cooled within two seconds after the end of the rolling, and then continuously cooled down to a coiling temperature at a
cooling rate of 20-150° C. / sec. The hot-rolled sheet is coiled at a temperature of 300-550° C., preferably in excess of 400° C. A fine
bainite structure is obtained in which the mean grain size is not greater than 3.0 mum, the
aspect ratio is not more than 1.5, and preferably the
maximum size of the major axis is not greater than 10 mum.