One-step (F100) and three-step (F30-60-40) hot forging of Al0.35CoCrFeNi alloy was investigated to achieve a uniform equiaxed grain structure. In the as-cast and forged state, only a single-phase face-centered cubic structure was observed. The formation of twins, recrystallized and partially recrystallized grains in the volume of the samples was observed depending on used forging process. To predict uniform grain-size formation numerical simulation of the hot-forging process was used. The numerical model was calibrated and validated by means of measured compression experimental data of as-cast Al0.35CoCrFeNi alloy before forging. Thermal analysis using finite element analysis was used to simulate cooling of sample during the relocation from the furnace on the lower die. Simulations were run under different thermo-mechanical conditions and the regions for the formation of dynamically recrystallized grains were predicted. Room temperature mechanical properties were evaluated after F100 and F30-60-40 hot-forging process. The F30-60-40 hot forging optimized the grain size, which was evident in the very small dispersion of the room temperature mechanical properties in tension. Elongation after F30-60-40 hot forging increased by 17%. The correlation between temperature, equivalent stress, equivalent plastic strain, microstructure, tensile properties, and strain-hardening behavior is discussed.