A high strength steel plate containing 0.02 to 0.08% C, by mass, and has substantially a two phase microstructure of ferrite and bainite. The ferrite contains precipitates having a particle size of 30 nm or smaller grain size. The steel plate has a yield strength of 448 MPa or higher. A method for manufacturing the high strength steel plate which comprises hot rolling, accelerated cooling and reheating. The accelerated cooling is conducted down to a temperature of 300 to 600° C. at a cooling rate of 5° C./s or higher. The reheating is conducted up to a temperature of 550 to 700° C. at a heating rate of 0.5° C./s or higher.