In order to provide theoretical guidance for production process control and products performance optimization, the microstructure evolution and heat treatment in the production process of GH5188 cobalt-base superalloy were investigated by SEM, EDS and Thermo-Calc software. The result indicates that the main phases of GH5188 alloy include gamma, M6C and M23C6. The 1200 degrees C/20 h homogenization could reduce segregation of as-cast microstructure. Hot-rolled microstructure has a fine grain size, and a large number of aligned carbides precipitating along the rolling direction. In the cold-rolled microstructure with serious grain deformation, granular M6C is found to be the predominant phase. When the annealing temperature is higher than 1170 degrees C, secondary carbides at the grain boundaries dissolve back into gamma and recrystallized grain can grow in normal way.