The present invention provides a hot reversing rolling mill for isothermally reducing a metal strip product. The mill includes a hot reversing mill stand with a pair of coilers positioned on opposite sides of the mill stand. At least one heater is positioned between one of the coilers and the mill stand with at least one strip cooling unit positioned between one of the coilers and the mill stand. A sensor is provided for sensing a strip parameter indicative of strip temperature as well as a controller for controlling each of the heating and cooling units in response to the sensed parameter. The rolling mill of the present invention can be utilized for isothermally rolling multiple passes of a metal strip product on the hot reversing mill.