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In this study, the effect of rotary-die equal-channel angular pressing (RD-ECAP) on the microstructure and texture evolution of GW103 alloy is studied. RD-ECAP processes were carried out for 1, 4 and 12 passes at 450 °C. The mechanical properties and friction behavior of RD-ECAP-processed Mg-10Gd-3Y (wt%) alloy (GW103) are discussed. The results reveal that the size of dynamic recrystallized grains and second-phase particles are significantly refined to about 1.3 μm and 1 μm, respectively. The texture evolution of the processed samples is studied by X-ray diffraction and electron backscattered diffraction techniques. The multiple texture components formed are not observed after the conventional ECAP process. Moreover, different dynamic recrystallization (DRX) mechanisms are systemically analyzed and discussed in view of the texture evolution of ECAP processed samples. The final textures obtained after 12 passes are identified as two types: The C-texture type induced by continuous and discontinuous DRX, and the random texture components induced by reorientation of the initial <101¯0> fiber. Based on the grain refinement, precipitate strengthening and texture weakening mechanisms, a high-performance ternary alloy of Mg-Gd-Y was firstly obtained through 12 passes RD-ECAP processing, with a combination of high yield strength of 312 MPa and a high ductility of 22%. In addition, the friction behaviors are also studied. The multi-pass-processed samples exhibit a relatively lower friction coefficient under a load of 10 N at room temperature.