Abstract: The L-warping issue caused by the uneven stress distribution on the upper and lower surfaces of the strip is a key factor restricting the improvement of strip shape quality in high-strength steel rolling using precision rolling mills. Since strip production involves numerous interrelated factors, traditional numerical simulations and on-site experiments are not effective in analyzing the causes and mechanisms of L-warping defects, making it difficult to meet the strip shape control requirements of high-precision rolling mills. To enhance the ability to regulate strip shape warping defects, this study established an integrated elastic-plastic coupling finite element model of the eighteen-roll stand and the strip. By analyzing the causes of uneven stress distribution on the upper and lower surfaces of the strip, key factors including work roll offset, slab thickness before rolling, and reduction rate were selected for quantitative analysis. The effects of these factors on L-warping deformation of the strip and the plastic deformation behavior of the strip were studied. The analysis results of multi-parameter varying working conditions indicate that the offset of the work rolls has the greatest impact on the post-rolling warping. A change in the offset within the range of ±3.0 mm can induce a warping deformation of ±11 mm. Under the same work roll offset, the warping behavior caused by the asymmetric offset mode of the rolls shows regular differences. Increasing the entry plate thickness reduces the post-rolling warping and improves the warping behavior. Increasing the reduction results in the warping initially increasing and then decreasing, ultimately stabilizing. Therefore, this study suggests strengthening the control accuracy of the work roll position, enhancing its self-maintenance, reasonably configuring the rolling process parameters, and planning the process parameter windows to weaken the warping deformation influenced by the base material and process parameters.