In this study, the evolution of annealing texture in nanostructured steel-based composite processed by accumulative roll bonding (ARB) was investigated. Textural evolution after post-annealing of ARB-processed samples was evaluated using X-ray diffraction. There was a texture transition in the ε-fiber during ARB process and post-annealing treatment. Average grain size of the sample before and after the post-annealing was 73 nm and 1.8 µm, respectively, and the microstructures were relatively uniform. It was found that with increasing the number of cycles, the volume fraction of the low angle grain boundary (LAGB) decreased and that of the high angle grain boundary (HAGB) increased. Also, the shear texture was dominant after the second and third ARB cycles, while for other samples, the rolling texture was dominant. The two-cycle and three-cycle samples obviously indicated a weak α-fiber and γ-fiber and a relatively strong ζ-fiber. It was proposed that the recrystallization led to a decrease in the α-fiber and γ-fiber and rolling texture components such as {111}〈110〉 and {111}〈112〉. On the other hand, the grain growth after recrystallization resulted in an increase in the α-fiber and γ-fiber and rolling texture orientations.