The aim of the research is the development and verification of a micromechanically motivated model of elastoplastic deformation of two-phase single-crystal nickel-based alloys, predicting behavior under high-temperature thermomechanical actionswith taking into account the presence of γ and γ' phases. The model is relevant for computations of the stress-strain state of cooled single crystal blades of gas turbine units. The constitutive equations for each of the phases took into account the anisotropy of elastic and plastic properties, the presence of octahedral slip systems, features of the cubic system, and various hardening mechanisms, including kinematic, isotropic and latent ones. The identification of the elastic and plastic constants of the material for the γ and γ 'phases was carried out on the basis of the known stress-strain curves for each phase. The determination of the effective properties and deformation diagrams of a two-phase single-crystal alloy, taking into account the presence of γ-γ'phases, was carried out both on the basis of finite element homogenization for the representative volume element, and using the simplest rheological (structural) models of the material, considering serial and parallel connection of phases. The dependences of the elastoplastic properties of two-phase single-crystal nickel-based alloys on the volume fraction of the γ'phase are determined by computational experiments and analytical estimates. In order to determine the optimal strategy for solving the class of problems under consideration, multivariant computational experiments were carried out for various types of boundary conditions of the homogenization problem, the number of periodicity cells, forms of inclusion of the γ'phase, volume fractions of the γ' phase, types of hardening, variants of rheological models and appropriate recommendations were given. The simulation results using the proposed two-level microstructural model of the material demonstrate a good agreement with the experimental data for the single-crystal superalloy CMSX-4.