The present disclosure relates to a dual phase steel sheet and a method of manufacturing the same. The steel sheet comprises C: 0.05˜0.10% wt %, Si: 0.03˜0.50 wt %, Mn: 1.50˜2.00 wt %, P: greater than 0 wt %˜0.03 wt %, S: greater than 0 wt %˜0.003 wt %, Al: 0.03˜0.50 wt %, Cr: 0.1˜0.2 wt %, Mo: 0.1˜0.20 wt %, Nb: 0.02˜0.04 wt %, B: greater than 0 wt %˜0.005 wt %, N: greater than 0 wt %˜0.01 wt %, and the balance of Fe and other unavoidable impurities. To impart excellent formability, bake hardenability, dent resistance, high Ri value and plating characteristics to the steel sheet for exterior and interior panels of automobiles, the steel sheet is processed to have a dual phase structure through cold rolling, annealing, and hot-dip galvanizing.