A high-strength cold-rolled steel sheet with high yield ratio having excellent formability, having a chemical composition containing 0.05% to 0.15% C, 0.10% to 0.90% Si, 1.0% to 2.0% Mn, 0.005% to 0.05% P, 0.0050% or less S, 0.01% to 0.10% Al, 0.0050% or less N, and 0.010% to 0.100% Nb, on a mass basis, the balance being Fe and unavoidable impurities, the high-strength cold-rolled steel sheet having a microstructure which is a multi-phase structure containing 90% or more of a ferrite phase and 0.5% to less than 5.0% of a martensite phase on a volume fraction basis, the remainder being low-temperature transformation phases, and the high-strength cold-rolled steel sheet having a yield ratio of 70% or more.