Low-cost ferritic stainless steels with excellent oxidation resistance and anti-corrosion ability are widely used in the fields of household appliances, hardware decoration, architectural structures, fuel cells and automobile exhaust systems. In order to achieve good formability of the ferritic stainless steel, the annealing process of hot-rolled sheet is crucial. As a newly developed 444-type heat-resistant ferritic stainless steel containing W and Ce, however, the influence of hot band annealing process of 19Cr2Mo1W ferritic stainless steel on its formability is not clear and need to have a deep understanding. In this work, the effect of annealing temperature of hot band on the microstructure, texture and formability of this steel was studied by means of XRD, EBSD, roughness measurement and formability test. The results indicated that although annealing processes were carried out at different temperatures after hot rolling, the characteristic of texture in the hot-rolled and annealed sheet was inherited to the cold-rolled sheet to some extent. The increased intensities of {223}<1\bar{1}0> and {111}<0\bar{1}1> texture components in the hot-rolled and annealed sheet were beneficial to improvement of the γ-fiber texture in the cold-rolled and annealed sheet. The extent of deviation from γ-fiber texture in the cold-rolled and annealed sheet was increased with increasing the intensities of {001}<1\bar{1}0>~{115}<1\bar{1}0> texture components in the cold-rolled sheet. An increased annealing temperature of the hot-rolled sheet could effectively weaken the intensities of {001}<1\bar{1}0>~{115}<1\bar{1}0> texture components in the cold-rolled sheet. In addition, the banded microstructures in the hot-rolled and annealed sheet were significantly reduced by increasing annealing temperature of the hot-rolled sheet, which improved the microstructure uniformity and formability of the cold-rolled and annealed sheet.