High temperature low cycle fatigue (LCF) tests were conducted on the FGH95 nickel-based superalloy at temperatures of 420 °C and 600 °C. The experimental results indicate that the fatigue life of the FGH95 alloy at 600 °C is approximately nine times higher than that at 420 °C under identical stress conditions. This finding differs from the conclusions of previous studies on the effect of temperature on fatigue life. The microstructure of the alloy was characterised, and it was found that there were multiple dynamic recrystallisation (DRX) mechanisms present. Continuous dynamic recrystallisation (CDRX) and discontinuous dynamic recrystallisation (DDRX) were identified as the dominant mechanisms at different temperatures. These different dominant mechanisms contributed to the variation in the fatigue life of the alloys under different temperature conditions at the same stress level.