In order to study the microstructure, tensile properties, strain-controlled low cycle fatigue properties and fracture morphology of a novel nickel-based powder metallurgy(P/M) superalloy (WZ-A3) under different conditionss, the scanning electron microscopy, optical metalloscopy, fatigue testing machine and tensile testing machine were used.The results show that the Previous Particle Boundary (PPB) formed during the Hot Isostatic Pressing (HIP) process were fully eliminated by Hot Extrusion (HEX). With the increase of tensile temperature from room temperature to 800℃, the tensile strength of the alloy decreases first (from room temperature to 400℃), remains unchanged (from 400℃ to 550℃), and then decreases (from 550℃ to 800℃). At room temperature, The Elongation of the HIP+HT samples were reduced by PPB. From 700℃ to 800℃, these two states of the tensile fracture changed from the mixed transgranular and intergranular fracture mode to the intergranular fracture mode. The fatigue life (Nf) of HIP+HEX+HT samples was higher than that of HIP +HT samples under small strain control (0.6%, 0.8%), which was related to inclusions in the alloy. When the strain was large (1.0%, 1.2%, 1.4%), the Nf were close to each other. When the strain was 1.2%, the multiple platform-type fatigue crack sources appeared in both samples.