Abstract: The process of the invention provides an improved method for forming sheet of iron-base ODS alloys. Powder containing iron and a substantially uniformly distributed oxide dispersoid is hot compacted into a billet. The billet is hot rolled in a first direction to introduce a predetermined amount of cold work into said billet. The hot rolled billet is then cold rolled in a second direction substantially perpendicular to said first direction after the hot rolling to form the iron-base ODS sheet. The cold rolling also introduces a predetermined amount of cold work into the billet. Preferably, the hot rolling and cold rolling are balanced to produce substantially uniform properties in the transverse and longitudinal directions.