Mechanical behaviour of a nickel-based superalloy, RR1000, has been investigated at 650 °C under cyclic and dwell loading conditions. The microstructural characteristics of the alloy have been studied using scanning electron microscopy (SEM) and transmission electron microscopy (TEM), and the distribution patterns of the dislocations and slip planes have been compared between samples tested under fatigue and creep–fatigue loading conditions. Constitutive behaviour of the alloy was described by a unified constitutive model, where both cyclic plastic and viscoplastic strains were represented by one inelastic strain. The results show that the precipitation state is very stable at 650 °C and only minor differences exist in the dislocation arrangements formed under pure fatigue and combined creep and fatigue conditions. Hence, a unified constitutive model seems to be justified in describing and predicting the constitutive behaviour in both cases.