Provided is a hot rolled steel sheet having excellent strength and elongation. The hot rolled steel sheet contains, by wt %: carbon (C): 0.05% or more and less than 0.4%, manganese (Mn): 10% to 15%, aluminum (Al): 2% or less, silicon (Si): 0.1 to 2%, molybdenum (Mo): 0.5% or less (excluding 0), vanadium (V): 0.5% or less (excluding 0), phosphorus (P): 0.01% or less, sulfur (S): 0.01% or less, and a remainder of iron (Fe) and inevitable impurities. The hot rolled steel sheet has a microstructure of the hot rolled steel sheet containing, by area %, tempered martensite: 50% to 70%, secondary martensite: 20% or less (excluding 0), epsilon martensite: 2% or less (excluding 0), and retained austenite: 8% to 30%. The hot rolled steel sheet has a tensile strength of at least 1500 MPa, a yield strength of at least 900 MPa and elongation of at least 20%.