This study was carried out to investigate the effect of thermo-mechanical treatment on the tensile properties of Fe-20Mn-12Cr-3Ni-3Si alloy with deformation induced martensite transformation. ${\alpha}^{\prime}$ and ${\varepsilon}$-martensite, dislocation, stacking fault were formed, and grain size was refined by thermo-mechanical treatment. With the increasing cycle number of thermo-mechanical treatment, volume fraction of ${\varepsilon}$ and ${\alpha}^{\prime}$-martensite, dislocation, stacking fault were increased, and grain size decreased. In 5-cycle number thermo-mechanical treated specimens, more than 10% of the volume fraction of ${\varepsilon}$-martensite and less than 3% of the volume fraction of ${\alpha}^{\prime}$-martensite were attained. Tensile strength was increased and elongation was decreased with the increasing cycle number of thermo-mechanical treatment. Tensile properties of thermo-mechanical treated alloy with deformation induced martensite transformation was affected to formation of martensite by thermo-mechanical treatment, but was large affected to increasing of dislocation and grain refining.