The paper presents the results of research concerning the influence of hot plastic working parameters on the deformability and microstructure of a Ni-Fe superalloy. The research was performed on a torsion plastometer in the range of temperatures of 900-1150°C, at a strain rates 0.1 and 1.0 s-1. Plastic properties of the alloy were characterized by the worked out flow curves and the temperature relationships of flow stress and strain limit. The structural inspections were performed on microsections taken from plastometric samples after so-called “freezing”. The stereological parameters as the recrystallized grain size, inhomogenity and grain shape have been determined. Functional relations between the Zener-Hollomon parameter and the maximum yield stress and the average grain area have been developed and the activation energy for hot working has been estimated.