PROBLEM TO BE SOLVED: To provide a rolling apparatus and method adaptable to various kinds of steel capable of micronizing a metal structure with an inexpensive machine structure using a reversible rolling mill. SOLUTION: In the hot rolling apparatus comprising the reversible hot rolling mill 100 that repeatedly rolls a rolling material changing a pass direction and heat insulators 4, 5 that uncoil and wind the rolling material from the rolling mill and keep a temperature of the rolling material after rolling, there are mounted, at both sides of an inlet and an outlet of the rolling mill, a cooling means capable of cooling down the rolling material to the temperature of not more than an Ar1 transformation point, and a heating means capable of heating the rolling material to the temperature of not less than an Ac1 transformation point or not less than an Ac3 transformation point. Then, the uncoiled rolling material is cooled down to the temperature of not more than the Ar1 transformation point and, after being rolled at this temperature, the rolling material is reheated to the temperature of not less than the Ac3 transformation point, and a rolling pass for winding the rolling material is repeatedly conducted changing the pass direction.