In this paper, the microstructure of an alloy was regulated by means of strengthening solution aging, and microstructure observation and composition analysis were carried out by means of an optical microscope and X-ray diffractometer. Combined with the Vickers hardness tester, electronic universal testing machine and high-temperature persistent creep testing machine, the mechanical properties and high-temperature properties of the alloy were tested, and the strengthening mechanism of the alloy was explored. The results showed that the dendritic morphology and structure of the alloy decreased with an increase in temperature during the solution process, and the γ′ phase morphology also changed with the solution temperature: oval → cross → cubic. The γ′ phase after solid solution at 1295 °C was closest to the cubic form. Therefore, it is believed that the 1295 °C solution treatment had the best effect. In the aging process, the uniform cubic degree of γ′ phase distribution was the highest at 1090 °C. On the basis of fixed aging temperature (1090 °C), it was found that the volume fraction of the γ′ phase increased significantly after 8 h. The γ′ phase, which was closest to the cubic form, had the largest proportion of precipitation, and the volume fraction increased to 70.3%. The minimum carbide volume was 1.0%. The hardness of the alloy reached 435.8 HV; the yield strength increased to 280.1 MPa; and the durability of the alloy under the conditions of 1000 °C/230 MPa and 870 °C/655 MPa was 99.7 h and 42.7 h, respectively, which achieved the purpose of alloy design.