The effect of cold processing deformation, annealing temperature and annealing time on the microstructure and mechanical properties of 617B alloy was studied. The results show that with the increase of deformation, grains are elongated along the direction of maximum principal strain to form a deformed strip belt, the tensile strength and yield strength of the alloy at room temperature gradually increase, while the elongation decreases. When the annealing temperature increases from 1080 oC to 1160 oC, the grains of the alloy gradually grow up, the tensile strength and yield strength are reduced, and the ductility is improved. When the annealing temperature of 1160 oC continues to increase, the grain growth velocity increases obviously, while the strength and plasticity changes little; grain growth activation energy (Q) of the alloy with different deformation amounts is much higher than that of pure Ni, and the Q value increases first s and then decreases with the amount of deformation increasing; the grain growth exponent η of the alloy increases first and then decreases with the increase of annealing temperature