Preheating and compression tests of Inconel 718 superalloy double cone specimens were carried out to investigate the microstructure heredity during hot working. Optical microscopy, scanning electron microscopy (SEM), electron backscatter diffraction (EBSD), and transmission electron microscopy (TEM) were used to characterize the microstructure evolution. The results show that intense microstructure heredity can be found at the temperature 960~990 °C. During the preheating process, δ phase precipitation or grain growth could increase the fraction of high angle grain boundary (HAGBs) and Σ3n boundaries. Otherwise, the generation or spread of annealing twin could increase the fraction of LAGBs, Volume fraction of recrystallized grains was evaluated at the whole hot working process. At the temperature of 960~990 °C, the volume fraction of recrystallized grains increases with effective strain increasing. At the super solution temperature of δ phase, the volume fraction of recrystallized grains decreases and then increases with the increase of the effective strain. The unimodal grain size distribution and fully recrystallized grains can be obtained at low strains at 960~990 °C. The twin boundary length fraction of deformed specimens is always lower than that of preheated ones. Discontinuous dynamic recrystallization (DDRX) was considered as the dominant nucleation mechanism, and continuous dynamic recrystallization (CDRX) was strengthened with the increasing grain size. Twin introduced deformation will be the main deformation mode for alloy 718 with larger grain.