Mechanical surface treatments are needed to perform on components for fatigue life enhancement by introducing beneficial compressive residual stress and material strengthening. In this study, the combined turning with low plasticity burnishing (LPB) surface modification process was performed for the sake of improving mechanical properties of Inconel 718. Firstly, the evolution of microstructure and residual stress after the LPB process were analyzed with the aid of electron backscatter diffraction (EBSD) and X-ray diffraction (XRD), respectively. Secondly, the tensile behavior of treated samples was investigated through tension tests. Finally, the micro-strengthening mechanism of Inconel 718, induced by the LPB process, was revealed. The results show that the peak compressive stress is increased by a factor of 4.2 after the LPB process. The grain refinement induced by the LPB process is attributed to the increase of average misorientation and the formation of high angle grain boundaries (HAGBs). The enhanced yield strength depends on the decreased average spacing and the increased HAGBs.