Demand for optimized high-strength, low-alloy steel used in sensor applications and as load elements is rising. Achieving strength through grain refinement while preserving toughness is both practical and sustainable. Severe plastic deformation, which is necessary for this effect, is not always feasible owing to constraints in manufacturing and product forms, such as welding or significant components. In this study, we explored grain refinement via cyclic heat treatment to circumvent these limitations, employing varied heating (medium-frequency heating and salt bath treatment), and cooling (water quenching, oil quenching, and air cooling) rates, and additional heat treatments. The process aimed at refining grains through repeated austenite to martensite transformations. The analysis covered microstructural impacts on mechanical properties and grain refinement efficiency. Comparatively, cyclic heat treatment enhanced tensile strength by 180 MPa and reduced grain size to 5.72 μm, outperforming quenching and tempering methods. Additionally, the efficacy of grain refinement improved with more cyclic heat treatment cycles.