Nickel-based alloys are considered promising materials for primary circuits of high-temperature gas reactors (HTGRs), specifically for gas turbines. The primary helium (He) coolant in the gas-turbine-based HTGRs is expected to reach temperatures of up to 900 °C; therefore, the selected materials should adequately perform over a long service life at such an environment. A promising manufacturing method in the production of reactor components is precision casting, where the content of revert (recyclate) material in the alloy differs and can influence the material behavior. In our study, Inconel alloy 738 was manufactured by casting 50% and 100% of revert material and tested in HTGR conditions to examine the influence of helium coolant on the material’s properties. Tensile specimens were exposed at 900 °C for 1000 h in helium containing a specified amount of gaseous impurities. Scanning electron microscopy (SEM) with energy dispersive spectroscopy (EDS), in combination with X-ray diffraction (XRD) and nano-, microhardness methods, were used for material characterization after performing the tensile tests at room temperature. The presence of three types of layers was observed: a thin layer formed by aluminum and chromium oxides on the surface; non-uniform surface oxides Ti3O5 with inner (Al,Cr)2O3; and the inner fine-grained Inconel Cr-enriched phase (approx. 10–20 µm below the surface), which can act as a protective surface layer. Mechanical properties of both revert materials decreased after exposure to HTGR conditions but did not show a significant difference as a result of the content of the revert material. The increase of nano-hardness in line profiles throughout the specimen’s cross-section was observed locally at the surface oxides and in the precipitates and grain boundaries. After exposure, Rp0.2 values decreased by 20% and 17.7%, and Rm values by 12.3% and 20.8% in samples with 50 and 100% revert content, respectively. Furthermore, a decrease in microhardness values (HV0.1) was detected by 4.98% in longitude and 5.80% in cross-section for samples with 50% revert material and by 3.85% in longitude and 7.86% in cross-section for samples with 100% revert material. It can be concluded that both revert materials have similar corrosion resistance in HTGR conditions. The presented results complement the knowledge about the degradation of alloys in the coolant environment of advanced gas-cooled reactors.