A high-strength hot-rolled steel sheet that has excellent punching workability and hole expandability, and a method for manufacturing the same. The hot-rolled steel sheet has a tensile strength of 980 MPa or more. The hot-rolled steel sheet has a chemical composition containing C, Si, Mn, P, S, Al, N, Ti, Cr, and B, and has a microstructure including a bainite phase having an area ratio of 85% or more as a main phase, and a martensite phase or martensite-austenite constituent having an area ratio of 15% or less as a second phase, the balance being a ferrite phase. The second phase has an average grain diameter of 3.0 μm or less, prior-austenite grains have an average aspect ratio of 1.3 or more and 5.0 or less, and recrystallized prior-austenite grains have an area ratio of 15% or less relative to non-recrystallized prior-austenite grains.