Sub-solvus dynamic recrystallization (DRX) mechanisms in an advanced γ-γ’ nickel-based superalloy GH4151 were investigated by isothermal compression experiments at 1040 °C with a strain rate of 0.1 s−1 and various true strain of 0.1, 0.3, 0.5, and 0.7, respectively. This has not been reported in literature before. The electron backscatter diffraction (EBSD) and transmission electron microscope (TEM) technology were used for the observation of microstructure evolution and the confirmation of DRX mechanisms. The results indicate that a new dynamic recrystallization mechanism occurs during hot deformation of the hot-extruded GH4151 alloy. The nucleation mechanism can be described as such a feature, that is a primary γ’ (Ni3(Al, Ti, Nb)) precipitate embedded in a recrystallized grain existed the same crystallographic orientation, which is defined as heteroepitaxial dynamic recrystallization (HDRX). Meanwhile, the conventional DRX mechanisms, such as the discontinuous dynamic recrystallization (DDRX) characterized by bulging grain boundary and continuous dynamic recrystallization (CDRX) operated through progressive sub-grain merging and rotation, also take place during the hot deformation of the hot-extruded GH4151 alloy. In addition, the step-shaped structures can be observed at grain boundaries, which ensure the low-energy surface state during the DRX process.