Effect of annealing treatment on deep drawing behavior of hot-rolled Q235 carbon steel/410/304 stainless steel three-layer composite plate was investigated. Deep drawability of the unannealed composite plates exhibits a sharp difference for various contact surfaces with the die. The limit drawing ratio (LDR) of the composite plate with the carbon steel contacting the die is 1.75, while it is 1.83 with the stainless steel contacting the die due to the different mechanical responses to the tensile stress at the corner of the die. After annealing at 900°C for 2 h, however, the deep drawabilities of the composite plates both for various contact surfaces with the die are significantly improved and becomes almost identical, which are attributed to the stress relief, the enhanced ductility and the improved interface bonding strength of the hot-rolled component plates during annealing.