Using powder metallurgy sintered billet as raw material, 0.02 mm molybdenum foil with tensile strength exceeding 795 MPa and elongation exceeding 1% was prepared by multi-pass rolling and intermediate annealing. The microstructure, texture and mechanical properties of the foil were analyzed by means of field emission scanning electron microscopy, electron backscatter diffraction and room temperature tensile test, and were compared with the 0.06 mm one under the same process. The results show that the microstructure characterization of 0.02 mm foil is granular or slender fibrous grain shape, more uniform and finer, and the aspect ratio is larger than 0.06 mm foil. The distribution frequency of low-angle grain boundaries is lower, especially the difference of sub-grain boundaries is more obvious. The texture composition in 0.02 mm molybdenum foil is more concentrated in α-line texture, and its grains account for 99.7%. Although the main texture of two molybdenum foils is {001}<110>, the proportion of {001}<110> component of 0.02 mm foil with larger deformation is much lower than that of 0.06 mm one, while the proportion of {112}<110> is significantly higher. The disparity in mechanical properties of 0.02 mm foil in different directions is more prominent, and the IPA value, which is used to characterize the degree of anisotropy, has been improved to different degrees on three mechanical properties. As the foil is thinned, two different trends which shows in tensile strength, yield strength, elongation and yield ratio of molybdenum foil in different directions reveal work hardening in the RD and TD directions, and deformation toughening in the 45°-RD direction.