The invention relates to a process for producing a grain-orientated electrical steel sheet during which a soaked slab consisting of a silicon steel is hot-rolled. The hot strip is subsequently annealed and cold rolled. The cold strip is recrystallised and subjected to decarburising annealing, and after application of a separation agent containing MgO to both sides it is annealed at a high temperature. Insulation coating and final annealing subsequently follow. The object of the invention is to set the deformation level in the last cold rolling stage at 83 to 86 % to avoid large dispersions of the magnetic values.