It has been determined the influence of the plastic strain in the cold rolling process on forming of the texture, structure and mechanical properties of AISI 304 steel. The texture analysis was carried out basing oneself on pole figures and three-dimensional function of orientation pattern. Diffraction phase analysis and magnetic examination have shown the presence of α’ martensite in the steel structure after deformation. The volume fraction of martensite grew larger together with the increase of the degree of deformation. The plastic strain induced γ → α’ martensitic transformation in the whole deformation range. It was observed the development of both austenite and martensite texture. On the basis of mechanical tests it has been found that together with the increase of the plastic strain amount in AISI 304 steel its mechanical properties and hardness grow while its plastic properties decrease.