The microstructures and mechanical properties of friction stir welded (FSW) Al–Zn–Mg alloy plate under different travel speeds were investigated. Both the average grain sizes (AGSs) of the shoulder affected zone (SAZ), nugget zone (NZ), and the widths of thermo-mechanically affected zone (TMAZ) decreased with the increase of travel speed. Moreover, the AGSs of NZ are always about 60% of that of SAZ at different travel speeds. The fractions of high-angle grain boundaries (HAGBs) in the FSW joints reduce with the distance away from the stir zone (SZ). Furthermore, the initial η’ strengthening precipitates in NZ and TMAZ dissolve and GP zones form during subsequent natural aging, so that the hardness is similar in the two zones. The precipitate evolution in the heat-affected zone (HAZ) at hardness minima are affected by travel speeds, which induce the hardness minima and ultimate tensile strength (UTS) of FSW joints and increase with the increase of travel speed, and a fracture tends to occur at hardness minima location of HAZ during tensile testing.