During the solidification process of GH4706 alloy ingots, element segregation and precipitation phases affect the thermoplasticity and hot workability of the alloy, thereby affecting subsequent forging. Proper homogenization treatment is necessary to eliminate element segregation and harmful precipitation phases. Differences in the microstructure and element segregation at different positions (center, R/2 and edge) of the GH4706 alloy ingot were observed via metallographic microscopy, SEM, EDS and JMatPro software. Then, the microstructure evolution during homogenization treatment and its effects on tensile properties were analysed. Research has shown that the matrix of the GH4706 alloy is the γ phase, and the main precipitated phases are the η phase, γ +γ′ eutectic phase, Laves phase, and M (C, N) phase. The main positive segregation elements in the alloy are Ti, Ni, and Nb, and the negative segregation elements are Cr and Fe. The original as-cast dendrites and the segregation of Cr, Ni, Nb, and Ti can be effectively eliminated after a homogenization treatment of 1 160 ℃×10 h+1 190 ℃×30 h, thus achieving a suitable uniformity effect. Moreover, the plasticity of the GH4706 alloy at 600 ℃ increases by 154% after homogenization, but intermediate-temperature brittleness (ITB) appears at 800 ℃.