This study compares the physical, electrical, and reliability characteristics of the high-k HfO2 film that was fabricated by a single-step and a multiple-step deposition-annealed method. After annealing at 750oC, the single-step annealed HfO2 has transformed into the polycrystalline phase, whereas the multi-step annealed HfO2 is found to remain in a nanocrystalline phase, revealing that a multi-step deposition-annealing method could greatly improve the thermal stability of the HfO2 film with respect to the grain formation process. Additionally, the density and composition of the HfO2 film are enhanced by multi-step deposition-annealing process. These changes lead to an improvement in the electrical characteristics, breakdown voltage, and reliability for the multi-step deposition-annealed HfO2 film, revealing that the multi-step deposition-annealing method is a promising means for improving the thermal stability and reliability of HfO2 gate stacks.