The aluminum alloy SPF process has found extensive application in the aviation and rail transportation industries. The commercial Al5083 alloy presents the advantages of low density, high specific strength, a simplified manufacturing technique, and low cost, thus making it an appealing option for producing components with minor strain and complex configurations. This study focused on examining the mechanical properties of the commercially available Al5083 alloy. Different temperatures (450 °C, 480 °C, 510 °C) and strain rates (0.01 s−1, 0.005 s−1, 0.001 s−1, 0.0005 s−1) were employed to investigate the behavior of the material. Furthermore, a constitutive equation was developed to describe the alloy's response under superplastic conditions. The utilization of EBSD allowed for the investigation of the evolution of grain and dislocation density, while XRD was employed to determine the development of macroscopic texture strength and texture type. The dominant mechanism of superplastic deformation in the commercial Al5083 alloy was identified as dynamic recrystallization and intra-crystalline slip, which distinguishes it from conventional fine-grained aluminum alloys. SEM was used to establish the exponential relationship between void volume fraction and true strain. The results provide valuable insights into the evolution of the macro-mechanical properties and microstructure of commercial Al5083 alloy during superplastic forming.