Molybdenum (Mo)-based uranium dioxide (UO2) fuel is considered one of the most promising fuel forms for deep-space exploration. The rolling process has been proposed for the preparation of Mo matrix due to its excellent performance. However, there has been limited research on the ultra-high temperature stability of Mo matrix used in nuclear thermal propulsion (NTP). Therefore, in this study, annealing experiments were carried out on rolled Mo plates within a relatively wide temperature range of 1200 to 2300 °C for 1 h to investigate the effects of temperature on the phase composition, microstructure, and mechanical property. The results showed that, despite the body-centered cubic structure of the Mo plates remaining unchanged without undergoing phase transition after high-temperatures, the intensity of the crystal diffraction peaks experienced a significant increase. The preferred growth orientation shifted from the (110) direction at lower temperatures to the (200) direction at 2300 °C. The grain shape of the rolled Mo plates changed from elongated to equiaxed after annealing, and the grain size increased from the initial 1 μm to tens of microns. No discernible surface pores or fracture bubbles were observed when annealed at 1200 to 2100 °C. However, subsequent annealing at 2300 °C revealed a proliferation of polyhedral bubbles, ranging in size from tens of nanometers to several microns, distributed both in grain boundaries and within grains. Nevertheless, there is no apparent change in the density from 1200 to 2300 °C. Bright-field TEM micrographs show that after annealing at 2300 °C, the dislocation density is significantly reduced, and the dislocation shape evolves from screw dislocation to long and straight line. In addition, the Vickers hardness value of the rolled Mo plates undergoes a significant decrease, from 247.1 to 199.6 Hv, after annealing at 1200 °C. Subsequently, in the temperature range of 1200 to 2300 °C, a gradual decline in the hardness value is observed. This work will deepen our understanding of the high-temperature resistance of rolled Mo plates and provide data to support their applications in ultra-high-temperature conditions.