The influence of matrix and grain boundary microstructural characteristics on the mechanical properties and resistance to stress corrosion cracking (SCC) of the 7050 aluminum alloy was investigated. The proposed step‐quench and aging (SQA) treatment can effectively improve the SCC resistance and attain optimum strength by controlling the microstructures, i.e., the coarse and widely‐spaced grain boundary precipitates (GBPs), and a matrix of GP zones with η′ phases. The highest strength of the 7050 alloy is obtained by using duplex aging at 120°C for 6 h and then 168°C for 3 h in the T6 temper. When the duplex aging is used in the SQA treatment, not only the SCC resistance and yield strength are significantly improved, but also the aging time is much reduced simultaneously, as compared to those obtained by the conventional T73 treatment. The process has good potential to be applied in industry. However, the SQA treatment is not applicable to the 7075 alloy because of its high quench sensitivity.