High strength steel products with good ductility can be produced via Q&P hot stamping process, while the phase transformation of the process is more complicated than common hot stamping since two-step quenching and one-step carbon partitioning processes are involved. In this study, an integrated model of microstructure evolution relating to Q&P hot stamping was presented with a persuasively predicted results of mechanical properties. The transformation of diffusional phase and non-diffusional phase, including original austenite grain size individually, were considered, as well as the carbon partitioning process which affects the secondary martensite transformation temperature and the subsequent phase transformations. Afterwards, the mechanical properties including hardness, strength, and elongation were calculated through a series of theoretical and empirical models in accordance with phase contents. Especially, a modified elongation prediction model was generated ultimately with higher accuracy than the existed Mileiko’s model. In the end, the unified model was applied to simulate the Q&P hot stamping process of a U-cup part based on the finite element software LS-DYNA, where the calculated outputs were coincident with the measured consequences.